SELL Opportunity for XAGUSD, Stuck at Resistance
XAGUSD Analysis
Market Awaits Inflation Insights from PCE
The U.S. economy’s growth, as reflected by the Q2 GDP, rose from 1.4% to 3%. Today, market participants are closely watching the Core PCE Price Index data to gain further insight into the potential magnitude of the Fed’s interest rate cuts.
Pullback to Resistance Area
The silver price has broken below the support area, which is now acting as resistance. A pullback to this resistance zone can be used to seek confirmation for a sell signal.
Prediction: WEAK XAGUSD
Resistance Levels
- R1 30.200
- R2 30.000
- R3 29.800
- R4 29.600
Support Levels
- S1 30.106
- S2 29.196
- S3 28.728
- S4 28.233
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.