XAGUSD Forex Analysis for Today, Friday (06-09-2024)
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BUY Opportunity for XAGUSD, Down Trendline BROKEN!
XAGUSD Analysis
The market is awaiting today’s US non-farm payrolls (NFP) data after yesterday’s ADP non-farm payrolls showed a decline. This US NFP data could influence how much the Fed will cut interest rates this month.
Down Trendline Broken
Silver prices have risen and broken above the down trendline visible on the H1 timeframe. The intraday bias has shifted to bullish for today. A buy signal confirmation can be sought if a correction occurs to the trendline area.
Prediction: STRONG XAGUSD
Resistance Levels
- R1: 28.114
- R2: 28.958
- R3: 29.338
- R4: 29.692
Support Levels
- S1: 27.600
- S2: 27.800
- S3: 28.000
- S4: 28.200
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