The probability of growth remains.

On the daily chart, an ascending third wave of the higher degree (3) has formed, followed by a correction in the form of the fourth wave (4), while the fifth wave (5) is currently developing. On the four-hour chart, the first wave of the lower degree, wave i of (5), has formed, the corrective wave ii of (5) has been completed, and wave iii of (5) is now unfolding. If this scenario proves correct, the XAG/USD pair’s upward trend is expected to continue toward the 96.50–122.00 zone, with a critical stop loss level at 61.10.

The quotes of the XAG/USD pair continue the local downward trend, holding during the Asian session around 63.74, and gradually working through the local correction that began in mid-May.

During the morning session, the XAG/USD pair is recovering after yesterday’s “bearish” momentum and is testing 73.50 for a breakout. Meanwhile, market participants are in no hurry to open new positions, assessing the Automatic Data Processing (ADP) data published yesterday.