Forex Technical Analysis of XAGUSD for July 29, 2014

Forex Technical Analysis of XAGUSD  - Update

Studying forex technical analysis for XAGUSD in monthly chart we observe the price to move between EMA(50) and EMA(200).
In weekly chart the price until now is under EMA(50) and EMA(200).
On daily chart the price is between EMA(50) and EMA(200).
In 4h chart the price is under EMA(50) and EMA(200).

According to forex technical analysis for XAGUSD all the critical levels are as follows:

Monthly Chart

The area 20.00 – 21.50 is a neutral zone.

If price moves above the neutral zone our trading targets will be: 26.00, 30.00, 35.00.

If price moves below the neutral zone our trading targets will be: 14.70, 11.50, 8.70.

Weekly Chart

The area 20.00 – 20.70 is a neutral zone.

If price moves above the neutral zone our trading targets will be: 22.20, 23.50, 25.00, 26.50, 28.00.
If price moves below the neutral zone our trading targets will be: 18.50, 16.00, 14.00.

Daily Chart

The area 20.50 – 20.90 is a neutral zone.

If price moves below the neutral zone our trading targets will be: 20.38, 20.00.
If price moves above the neutral zone our trading targets will be: 21.50, 22.00, 22.50, 23.50.

4H Chart

The area 20.50 – 20.65 is a neutral zone.

If price moves below the neutral zone our trading targets will be: 20.40, 20.25, 20.00.
If price moves above the neutral zone our trading targets will be: 20.70, 21.00.

We are very suspicious for a possible formation 1-2-3 on daily chart. For this reason our personal forex trading strategy is to remain for an opportunity to enter in the market as buyers on daily chart.
 
We note the need to use stop loss levels. After all the above informations we can design a forex trading strategy in order to follow, which will have based on forex technical analysis.

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