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.
Prediction: STRONG XAGUSD
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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