XAGUSD Forex Analysis for Today, Tuesday (18-06-2024)

XAGUSD Forex Analysis for Today, Tuesday (18-06-2024)

XAGUSD Forex Analysis for Today, Tuesday (18-06-2024)

Selling Opportunity for XAGUSD: Price Held at Resistance, Target the Pull Back!

XAGUSD Analysis

USD Remains Strong

The US Dollar (USD) remains strong against major currencies, with the US Dollar Index maintaining a moderate rise. The absence of high-impact macroeconomic data releases will continue to put downward pressure on Silver prices.

Held at Resistance, Still in Consolidation Area

Prices are held at resistance and remain in the consolidation area on the H1 time frame. Selling opportunities are available targeting a pullback as long as prices do not break the nearest resistance area.

Prediction: WEAK XAGUSD

Resistance Levels

  • R1 30.307
  • R2 29.955
  • R3 30.452
  • R4 30.626

Support Levels

  • S1 29.536
  • S2 30.307
  • S3 29.288
  • S4 29.007
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