XAGUSD Forex Analysis for Today, Friday (14-06-2024)

XAGUSD Forex Analysis for Today, Friday (14-06-2024)

XAGUSD Forex Analysis for Today, Friday (14-06-2024)

XAGUSD Still Under Pressure, Look for SELL Opportunities

XAGUSD Analysis

Hawkish Fed Statement Supports Dollar

The US PPI data released was lower than expected, but it didn’t significantly impact the USD, as the market is still digesting the hawkish Fed statement that reduces the likelihood of more than one rate cut this year.

Sell at Resistance Area

Prices are still moving within the downtrend visible on the H1 time frame. Selling opportunities can be found again at the nearest resistance area.

Prediction: WEAK XAGUSD

Resistance Levels

  • R1 29.934
  • R2 29.448
  • R3 30.243
  • R4 30.570

Support Levels

  • S1 28.956
  • S2 29.934
  • S3 28.659
  • S4 28.107

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