XAGUSD Forex Analysis for Today, Thursday (06-06-2024)

XAGUSD Forex Analysis for Today, Thursday (06-06-2024)

XAGUSD Forex Analysis for Today, Thursday (06-06-2024)

XAGUSD Still Held at Resistance, SELL Opportunities Remain

Analysis of XAGUSD

Silver Unable to Strengthen Further

Silver prices failed to strengthen further despite weak growth in the US private sector employment data. The market is still awaiting US NFP data to gauge the prospects of Fed rate cuts and Middle East geopolitical conditions.

Still Held at Trendline and Resistance

Prices remain held below the trendline and resistance area. Selling opportunities can be sought at the trendline and resistance area, as long as there is no break above the resistance area.


Resistance Levels

  • R1 30.885
  • R2 29.995
  • R3 31.202
  • R4 31.738

Support Levels

  • S1 29.995
  • S2 30.885
  • S3 29.774
  • S4 29.361

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