XAGUSD Forex Analysis for Today, Friday (21-06-2024)

XAGUSD Forex Analysis for Today, Friday (21-06-2024)

XAGUSD Forex Analysis for Today, Friday (21-06-2024)

XAGUSD Moving Up, Seek BUY in Trendline Area

XAGUSD Analysis

US Economic Data Worsens

Weekly US jobless claims were worse than expected, while the Philadelphia Fed Manufacturing Index also dropped from 4.5 to 1.3. These two data points triggered a weakening of the USD.

Buy in Trendline Area

The price is moving above an upward trendline seen on the H1 timeframe. Buying opportunities can be sought if there is a correction to the trendline area.


Resistance Levels

  • R1 30.427
  • R2 29.964
  • R3 30.815
  • R4 31.178

Support Levels

  • S1 29.500
  • S2 29.964
  • S3 30.427
  • S4 30.769

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