A fall is possible.

On the daily chart, the upward third wave of the higher level (3) forms, within which the wave 3 of (3) ended, and a correction develops as the fourth wave 4 of (3). Now, the wave a of 4 is developing, within which the wave (iii) of a has formed, a correction has ended as the wave (iv) of a, and the wave (v) of a is developing. If the assumption is correct, the XAG/USD pair will fall to the area of 27.74–26.00. In this scenario, critical stop loss level is 31.48.

Main scenario

Short positions will become relevant below the level of 31.48 with the targets at 27.74–26.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price above the level of 31.48 will let the asset grow to the area of 32.68–33.37.