XAGUUSD Forex Analysis – Monday(05-02-2024)

XAGUUSD Forex Analysis – Monday(05-02-2024)

XAGUUSD Forex Analysis for Today – Monday(05-02-2024)


XAGUSD Under Pressure, Still Looking for SELL Opportunities

Daily Analysis XAGUSD

Silver Plummets Post US NFP

Silver prices were under pressure on Friday due to the strengthening USD and the rise in yields of US government bonds following the robust US non-farm payrolls data, creating uncertainty about the potential Fed interest rate cuts.

Look for Sell Opportunities at Resistance Area

The appearance of a long bearish candlestick indicates strong bearish pressure. The pullback only formed small bullish candlesticks. Monitor the resistance area for another sell signal.

Prediction: WEAK SILVER


  • R1: 22.837
  • R2: 22.699
  • R3: 22.930
  • R4: 23.023


  • S1: 22.699
  • S2: 22.837
  • S3: 22.627
  • S4: 22.481

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