XAGUSD Forex Analysis for Today, Monday (10-06-2024)

XAGUSD Forex Analysis for Today, Monday (10-06-2024)

XAGUSD Forex Analysis for Today, Monday (10-06-2024)

Monitor SELL Opportunities for XAGUSD: Moving Below Trendline Again

XAGUSD Analysis

US NFP Boosts USD Strength

Silver prices declined as the USD strengthened following the release of improved US non-farm payrolls data, slightly diminishing hopes for an imminent Fed rate cut in September.

Sell in Trendline and Resistance Area

Prices have moved back below the descending trendline visible on the H1 time frame. Selling opportunities can be sought if there is a pullback to the trendline area or the resistance area near it.


Resistance Levels

  • R1 30.987
  • R2 30.177
  • R3 31.376
  • R4 31.757

Support Levels

  • S1 29.389
  • S2 30.177
  • S3 29.055
  • S4 28.640

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