After holding above 30.00 for quite a long time, the XAG/USD pair broke through it downwards amid the American dollar growth.

The XAG/USD pair is trading near 30.35, preparing to continue its decline to 30.00 amid the American dollar growth.

The pair may fall.

On the daily chart, the upward third wave of the higher level (3) develops, within which the wave 3 of (3) ended, and a correction is forming as the fourth wave 4 of (3). Now, the wave a of 4 has formed, a correction has developed as the wave b of 4, and the wave c of 4 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 32.30.

The XAG/USD pair is showing moderate growth, again testing 32.00 for a breakout. The instrument is located near its local highs of November 6, which were updated at the beginning of the current week. The growth in quotations is facilitated by geopolitical factors, which have intensified with the political crisis in Syria, as well as the fact that China has resumed active purchases of precious metals, which is once again increasing its efforts to diversify dollar reserves.