XAGUSD Forex Analysis for Today, Tuesday (16-07-2024)
Check BUY Opportunity for XAGUSD: Price at Support Area
Analysis XAGUSD
Market Anticipates Fed Rate Cuts Soon
Although Powell continues to state that he will wait for strong evidence of decreasing inflation, the market is confident that the Fed will cut rates even if the 2 percent inflation target has not yet been met. The market continues to monitor statements from Fed officials to find clarity on when the cuts will begin.
Held at Support Area
Prices are held at the support area visible on the H1 time frame. Buying opportunities can be sought in this support area.
Forecast: STRONG XAGUSD
Resistance
- R1 30.073
- R2 30.943
- R3 31.316
- R4 31.739
Support
- S1 30.000
- S2 30.500
- S3 31.000
- S4 31.500
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