XAGUSD Forex Analysis – Monday (06-05-2024)

XAGUSD Forex Analysis – Monday (06-05-2024)

XAGUSD Forex Analysis for Today – Monday (06-05-2024)

Visit XAGUSD Forex Analysis

Sell Opportunity for XAGUSD: Price Tests Trendline and Resistance

XAGUSD Analysis

Silver Follows Gold Movements

Silver prices are declining in line with gold due to increased risk appetite in the market and changing market sentiment towards US monetary policy.

Trendline and Resistance Holding

The rise in silver prices is once again held back at the trendline and resistance area. Sell opportunities can be taken if there is a confirmation of bearish signals at the resistance area.

Prediction: WEAK XAGUSD

Resistance Levels

  • R1: 26.405
  • R2: 26.762
  • R3: 27.115
  • R4: 27.372

Support Levels

  • S1: 26.762
  • S2: 26.405
  • S3: 26.533
  • S4: 26.086

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