This week, the XAG/USD pair tried to break the support level of 26.58 but after the results of yesterday’s the US Fed meeting, the quotes began to rise.

The price is in a correction and may grow.

On the daily chart, the third wave of the higher level (3) develops, within which the first wave 1 of (3) formed, a correction ended as the second wave 2 of (3), and the wave 3 of (3) forms. Now, the entry first wave of the lower level i of 3 has ended, and a local correction is developing as the second wave ii of 3. If the assumption is correct, the XAG/USD pair will grow to the area of 31.65–35.50. In this scenario, critical stop loss level is 25.00.

The XAG/USD pair shows mixed dynamics, holding near 27.10. The instrument has been actively losing value since the beginning of the week, but the greatest "bearish" activity was observed on Monday, despite the fact that the macroeconomic background remained fairly calm. Pressure on quotes, as before, comes from the fact of some stabilization of the situation in the Middle East.