XAGUSD Forex Analysis for Today
SELL Opportunities for XAGUSD: Bearish Wedge Pattern
XAGUSD Analysis
Silver Remains Under Pressure
The price of silver remains under pressure due to expectations of a slowdown in China’s economy, which is leading to a decrease in industrial demand for silver. Additionally, the market is awaiting the Fed’s decision this week.
Bearish Rising Wedge Confirmed
A bearish rising wedge pattern is confirmed on the H1 time frame. A pullback has occurred to the lower line area.
Prediction: WEAK XAGUSD
Resistance
- R1: 29.000
- R2: 28.500
- R3: 28.000
- R4: 27.500
Support
- S1: 28.376
- S2: 27.382
- S3: 26.905
- S4: 26.451
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