XAGUSD Forex Analysis for Today, Monday (03-06-2024)

XAGUSD Forex Analysis for Today, Monday (03-06-2024)

XAGUSD Under Pressure, SELL If Support Breaks

Analysis of XAGUSD
Fed Dallas: Too Early to Cut Rates
Silver prices are under pressure as the market continues to digest US inflation data being monitored by the Fed to determine the direction of interest rates. However, the President of the Dallas Fed stated that it is still too early to consider cutting rates.

Sell If Support Breaks

Prices are testing the support area. Selling opportunities can be sought if a break below this support area occurs.


Resistance Levels:

  • R1: 31.160
  • R2: 30.636
  • R3: 31.532
  • R4: 31.861

Support Levels:

  • S1: 30.172
  • S2: 30.636
  • S3: 29.834
  • S4: 29.502

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