XAGUSD Forex Analysis for Today, Wednesday (05-06-2024)

XAGUSD Forex Analysis for Today, Wednesday (05-06-2024)

XAGUSD Forex Analysis for Today, Wednesday (05-06-2024)

XAGUSD Continues to Plummet! Get Ready to Sell!

Analysis of XAGUSD

Silver Declines Amid US NFP Data Uncertainty

Silver prices remain pressured amid uncertainty ahead of the US non-farm payrolls (NFP) data release. The US NFP data is expected to rise, but US job openings have recorded a decline.

Sell If Support is Breached

Prices are still moving below the trendline and testing the support area. Selling opportunities can be sought if there is a break below this support area.


Resistance Levels

  • R1 30.506
  • R2 30.383
  • R3 31.142
  • R4 31.471

Support Levels

  • S1 29.348
  • S2 29.895
  • S3 29.045
  • S4 28.668

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