SELL Potential for XAGUSD, BoS Observed
XAGUSD Analysis
Strengthening USD and Rising US Treasury Yields
Silver prices are under pressure due to the strengthening USD and the rising yields of US Treasury bonds. This week, the market will be anticipating a series of economic data releases, culminating in the US non-farm payrolls report at the end of the week.
Break of Structure
Silver prices broke below the support area, indicating a break of structure (BoS). Confirmation for a sell signal can be sought if a pullback occurs to the BoS area.
Prediction: WEAK XAGUSD
Resistance Levels
- R1 30.200
- R2 30.000
- R3 29.800
- R4 29.600
Support Levels
- S1 29.159
- S2 28.213
- S3 27.748
- S4 27.282
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