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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