XAGUSD Forex Analysis for Today, Thursday (18-01-2024)
Silver Still in Downtrend: Selling Opportunity Still Open!
Daily Analysis XAGUSD
Dollar Strength Still Pressuring Silver Prices
Silver is under pressure due to the strengthening USD following increased US retail sales data, enlarging expectations that the Fed will not cut interest rates in the near future.
Prices Still in Downtrend
Prices are still moving in a bearish bias below the downward trendline. Sell signals can be sought in the resistance area.
Prediction: WEAK SILVER
Resistance
- R1 22.850
- R2 22.650
- R3 22.950
- R4 23.050
Support
- S1 22.650
- S2 22.850
- S3 22.550
- S4 22.450
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