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.
Forecast: WEAK XAGUSD
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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