XAGUSD Forex Analysis for Today, Thursday (01-08-2024)
Potential BUY XAGUSD: Moving Above Trendline
XAGUSD Analysis
Fed Likely to Cut Rates in September
Precious metals prices, including silver, rose after Fed Chairman Jerome Powell signaled that the Fed is likely to cut interest rates in September if inflation aligns with expectations.
Moving Above Trendline
Prices are moving above the trendline visible on the H1 time frame. Look for buying opportunities if a correction to the trendline area occurs.
Prediction: STRONG XAGUSD
Resistance
- R1 28.142
- R2 28.836
- R3 29.227
- R4 29.623
Support
- S1 29.500
- S2 29.000
- S3 28.500
- S4 28.000
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