XAGUSD Forex Analysis for Today, Tuesday (02-07-2024)
XAGUSD Approaches Resistance Area, Still Possible to Look for Sell Opportunities
Analysis XAGUSD
Market Awaits US Employment Data
The strengthening of silver prices has diminished as the market’s focus shifts to US employment data this week. Employment data will provide further clues regarding the Federal Reserve’s plans for interest rate cuts.
Monitor Resistance Area
Prices are approaching the resistance area visible on the H1 time frame. Selling opportunities can be considered in this resistance area.
Prediction: Weak XAGUSD
Resistance
- R1 29.896
- R2 29.800
- R3 29.646
- R4 29.000
Support
- S1 29.896
- S2 29.440
- S3 29.143
- S4 28.840
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