XAGUSD Forex Analysis for Today, Thursday (22-08-2024)
Continue Seeking BUY Opportunities for XAGUSD: Monitor BoS Area for Confirmation
XAGUSD Analysis
Fed Rate Cut Almost Certain
The market is increasingly confident that a rate cut by the Fed will occur in September, following the release of the minutes from the Fed showing that policymakers at the FOMC are essentially convinced that a rate cut will soon be implemented.
Monitor BoS Area
Keep an eye on the entry area based on the BoS zone. Buying opportunities can be sought in that entry area.
Forecast: STRONG XAGUSD
Resistance Levels:
- R1: 28.629
- R2: 29.579
- R3: 30.041
- R4: 30.569
Support Levels:
- S1: 28.000
- S2: 28.200
- S3: 28.400
- S4: 28.600
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