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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