The XAG/USD pair declines, trading at 29.13 amid macroeconomic statistics from the US and China.

Growth is possible.

On the daily chart, the third wave of the higher level (3) forms, within which the wave 3 of (3) develops. Now, the entry first wave of the lower level i of 3 has formed, a correction has ended as the second wave ii of 3, and the third wave iii of 3 is forming, within which a local correction has ended as the wave (ii) of iii. If the assumption is correct, the XAG/USD pair will grow to the area of 35.50–38.70. In this scenario, critical stop loss level is 28.47.

The XAG/USD pair is showing quite active growth, developing the "bullish" momentum formed the day before, when quotes managed to retreat from the local lows of May 16. The instrument is testing 30.40 for a breakout, while investors await the emergence of macroeconomic data that could influence the decisions of the US Federal Reserve in the field of monetary policy.