XAGUSD Forex Analysis for Today, Monday(08-07-2024)

XAGUSD Forex Analysis for Today, Monday(08-07-2024)

XAGUSD Forex Analysis for Today, Monday(08-07-2024)

Opportunity to BUY XAGUSD: Potential Bullish Flag Again

XAGUSD Analysis

US NFP Data Below Expectations

June US NFP data was released lower than May, at 206 thousand below May’s figure of 218 thousand. The unemployment rate rose from 4 percent to 4.1 percent. This data increases the likelihood of a Fed rate cut this year, particularly in September.

Potential Bullish Flag

A potential bullish flag pattern is visible on the H1 time frame. Buying opportunities can be taken if the pattern is confirmed.



  • R1 30.798
  • R2 31.961
  • R3 32.548
  • R4 33.167


  • S1 29.000
  • S2 30.000
  • S3 31.000
  • S4 32.000

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