XAGUUSD Forex Analysis for Today – Monday(05-02-2024)
https://onlineforexafrica.com/
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
Resistance
- R1: 22.837
- R2: 22.699
- R3: 22.930
- R4: 23.023
Support
- S1: 22.699
- S2: 22.837
- S3: 22.627
- S4: 22.481
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.