XAGUSD Forex Analysis for Today, Tuesday (20-08-2024)
XAGUSD Still Has BUY Potential: Another Break of Structure, Continues Uptrend
XAGUSD Analysis
Market Awaits Fed’s Next Move
Silver prices are bolstered as the market anticipates clearer signals from the Fed regarding the potential rate cut in the upcoming September meeting.
Another Break of Structure
Another Break of Structure (BoS) is observed on the H1 time frame. A buying opportunity can be considered if a pullback occurs toward the BoS area. Also, monitor the trendline area for confirming buy signals.
Forecast: STRONG XAGUSD
Resistance Levels:
- R1: 28.629
- R2: 29.579
- R3: 30.041
- R4: 30.569
Support Levels:
- S1: 27.500
- S2: 28.000
- S3: 28.500
- S4: 29.000
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