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XAG/USD: technical analysis

On the H4 chart, there is a correction of the upward movement. The instrument is trading near the upper border of Bollinger Bands; the indicator cloud is expanded, which indicates the likely resumption of growth in the short term after the end of the correction. MACD histogram is in the positive area. The signal line is crossing the body of the histogram from below retaining a signal for opening long positions. Stochastic crossed the overbought zone from above, having formed a signal to open short positions.


XAU/USD: wave analysis

The price may fall.

On the 4-hour chart, an upward correction of the higher level developed as the wave (B), within which the fifth wave v of C developed. Now, the formation of the wave (C) has begun, within which the first entry wave of the lower level (i) of i of 1 of (C) has formed, and a local correction is developing as the wave (ii) of i. If the assumption is correct, the price will fall to the levels of 1667.44–1634.13. In this scenario, critical stop loss level is 1765.45.