XAGUSD Forex Analysis for Today, Monday (22-07-2024)
Potential BUY for XAGUSD: Double Bottom Possibility
Analysis XAGUSD
Biden’s Withdrawal Weakens USD
The USD weakened after Joe Biden announced his withdrawal from the 2024 US presidential race. His replacement is Kamala Harris, who is currently the vice president of the United States.
Double Bottom Potential
The price is holding at the support area and there is a potential formation of a double bottom pattern on the H1 time frame.
Prediction: STRONG XAGUSD
Resistance
- R1 28.500
- R2 29.403
- R3 29.858
- R4 30.358
Support
- S1 28.500
- S2 29.000
- S3 29.500
- S4 30.000
Disclaimer: This publication of analysis is a form of marketing communication and does not represent any research or investment advice whatsoever. The content contained therein reflects the general views of our experts and is not related to the personal conditions, investment experiences, or financial situations of the readers. This analysis is also not intended to promote any independent investment body, and Exness is not obliged to prohibit any transactions before the release of the analysis. Readers should be cautious about the potential for losses that may occur. Exness South africa is not responsible for any losses that may arise from the use of this analysis.