XAGUSD Forex Analysis for Today – Friday (26-04-2024)
Prepare to Seek SELL Opportunities in XAGUSD, Monitor Potential Breakout of Support
XAGUSD Daily Analysis
Inflation Could Hinder Fed Rate Cuts
The US Core PCE data tonight has the potential to increase. Although US economic growth in the first quarter was slower than expected, the potential for inflation to rise could hinder the Fed from cutting interest rates before September. High interest rates could reduce the attractiveness of holding non-yielding precious metals.
Price Still in Consolidation Phase
Silver prices are still in a consolidation phase. Opportunities to open sell positions can be found if there is a breakthrough below the support level.
Prediction: WEAK XAGUSD
Resistance Levels
- R1: 27.599
- R2: 26.960
- R3: 27.747
- R4: 27.973
Support Levels
- S1: 26.960
- S2: 27.599
- S3: 26.810
- S4: 26.648
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