XAGUSD Forex Analysis for Today
BUY Opportunity in XAGUSD: Support Still Holding
XAGUSD Analysis – Silver Still Stable
Silver prices remain stable following the weakening of the USD in response to President Joe Biden’s withdrawal from the US presidential race. Meanwhile, the market is preparing for the release of US PCE data to find clues about the Fed’s next steps. According to the CME FedWatch Tool, 93 percent of market participants believe the Fed will start cutting interest rates in September.
Trendline Still Holding
The support seen on the H1 time frame is still holding. A false breakout is observed, and buy opportunities can still be sought as long as this support remains intact.
Prediction: STRONG XAGUSD
Resistance
- R1: 28.500
- R2: 29.403
- R3: 29.858
- R4: 30.358
Support
- S1: 28.500
- S2: 29.000
- S3: 29.500
- S4: 30.000
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