XAGUSD Forex Analysis for Today
BUY Opportunity in XAGUSD: Bullish Falling Wedge Pattern Visible
XAGUSD Analysis
Market Continues to Monitor US Economic Data
Silver prices remain stable. The market is still awaiting the announcement of this week’s economic data for more clues on when the Fed might start cutting interest rates this year, although 93 percent of market participants believe the Fed will do so in September according to the CME FedWatch Tool.
Bullish Falling Wedge Pattern
A bullish falling wedge pattern is visible on the H1 time frame.
Prediction: STRONG XAGUSD
Resistance
- R1: 28.588
- R2: 30.224
- R3: 31.010
- R4: 31.812
Support
- S1: 28.500
- S2: 29.000
- S3: 29.500
- S4: 30.000
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