XAGUSD Forex Analysis – Monday (24-06-2024)

XAGUSD Forex Analysis – Monday (24-06-2024)

XAGUSD Forex Analysis for Today – Monday (24-06-2024)

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XAGUSD Has SELL Potential, Breaking Below the Trendline

Analysis of XAGUSD

Strengthening USD Pressures Silver

The strengthening USD and rising US bond yields are pressuring silver prices. The dollar’s strength follows an increase in US business activity data.

Selling in the Trendline Area

Prices break below the rising trendline seen on the M30 time frame. Selling opportunities can be explored if there is a retracement back to the trendline area.


Resistance Levels

  • R1: 31.000
  • R2: 30.588
  • R3: 30.008
  • R4: 29.429

Support Levels

  • S1: 30.588
  • S2: 29.440
  • S3: 28.982
  • S4: 28.299

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.

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