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.
Forecast: WEAK XAGUSD
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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