XAGUSD Forex Analysis for Today, Thursday (16-05-2024)

XAGUSD Forex Analysis for Today, Thursday (16-05-2024)

XAGUSD Forex Analysis for Today, Thursday (16-05-2024)

XAGUSD Surges! Buy Opportunity If Resistance Breaks!

XAGUSD Analysis

Silver Rises Due to Dollar Weakness Following CPI Data

Silver prices strengthened due to USD weakening after US CPI data was announced weaker than expected. Retail sales data also dropped significantly compared to previous figures.

Monitor Resistance Area

Prices are still held at the resistance area in the H1 time frame. A breakout above the resistance will increase the buy opportunity.



  • R1 29.956
  • R2 29.249
  • R3 30.249
  • R4 30.633


  • S1 29.249
  • S2 29.956
  • S3 29.023
  • S4 28.763

Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. XM broker south africa is not responsible for any losses that may arise from the use of this analysis.

 forex analysis | gbpjpy forecast | eur chf forecast | gbp usd forecast | best forex prediction site | top down analysis forex | gbp usd forecast | xau usd forecast

Leave a Reply

Your email address will not be published. Required fields are marked *