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.

Forecast: WEAK XAGUSD

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
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