XAGUUSD Forex Analysis for Today, Friday(12-07-2024)

XAGUUSD Forex Analysis for Today, Friday(12-07-2024)

XAGUUSD Forex Analysis for Today, Friday(12-07-2024)

Opportunity to BUY XAGUSD Again! Symmetrical Triangle Formation!

XAGUSD Analysis

US Inflation Data Decreases

The US CPI data recorded at -0.1 percent month-on-month, along with the core CPI data dropping from 0.2 percent to 0.1 percent, strengthens expectations that the Fed will cut interest rates this year, possibly in September.

Symmetrical Triangle Pattern

A symmetrical triangle pattern has been confirmed on the H1 time frame. Buying opportunities can be sought if there is a pullback near the upper line area of this pattern.

Prediction: STRONG XAGUSD

Resistance

  • R1 30.562
  • R2 31.697
  • R3 32.204
  • R4 32.754

Support

  • S1 29.500
  • S2 30.000
  • S3 30.500
  • S4 31.000
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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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