XAGUSD Forex Analysis for Today, Wednesday (07-08-2024)
SELL Opportunity for XAGUSD: Symmetrical Triangle Potential!
XAGUSD Analysis
USD Strengthens, Silver Pressured
Silver remains pressured due to the slowdown in the industrial sector, facing additional pressure from a strengthening USD and rising 10-year US Treasury yields.
Symmetrical Triangle Potential
A potential symmetrical triangle pattern is visible on the H1 time frame. SELL opportunities can be sought if this pattern is confirmed, indicated by a break below the lower line of the pattern.
Prediction: WEAK XAGUSD
Resistance
- R1 29.000
- R2 28.500
- R3 28.000
- R4 27.500
Support
- S1 27.321
- S2 26.289
- S3 25.711
- S4 25.102
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