XAGUSD Forex Analysis for Today, Friday (23-08-2024)
Look for SELL Opportunities on XAGUSD: Monitor Resistance Area
XAGUSD Analysis
Market Awaits Powell’s Speech
The USD has slightly strengthened ahead of Jerome Powell’s scheduled speech as the Federal Reserve Chair at the Jackson Hole Symposium tonight. The market will seek further hints regarding the potential interest rate cut in the upcoming September meeting.
Monitor Resistance Area
Watch the entry zone placed in the resistance area, which was previously a broken support level. SELL opportunities can be explored in this entry zone.
Forecast: WEAK XAGUSD
Resistance Levels:
- R1: 30.000
- R2: 29.800
- R3: 29.600
- R4: 29.400
Support Levels:
- S1: 29.784
- S2: 28.478
- S3: 27.920
- S4: 27.364
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