Parabolic SAR Buy
Bollinger Bands Buy
On the daily timeframe, the XAGEUR: D1 is in an uptrend, near its support line. A number of technical analysis indicators formed buy signals. The bullish momentum may develop in case XAGEUR rises above the upper Bollinger band at 16.5. This level may serve as an entry point. The initial stop loss may be placed below the last fractal low, the lower Bollinger band and the Parabolic signal at 15.7. After opening the pending order, we shall move the stop to the next fractal low following the Bollinger and Parabolic signals. Thus, we are changing the potential profit/loss to the breakeven point. More risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop level (15.7) without reaching the order (16.5), we recommend closing the position: the market sustains internal changes that were not taken into account.
The euro edges lower amid weak economic statistics. Will the XAGEUR rise?