XAGUUSD Forex Analysis for Today – Wednesday(13-03-2024)
Selling Opportunity for XAGUSD! Potential Double Top!
Daily Analysis XAGUSD
US Inflation Lowers Expectations of Fed Rate Cuts
Silver prices weakened yesterday after US inflation data turned out to be higher than expected, dampening market confidence that the Fed would soon cut interest rates.
Potential Double Top
There is a potential formation of a double top pattern on the H1 time frame. Monitor the resistance area to find selling opportunities.
Prediction: WEAK SILVER
Resistance
- R1 24.746
- R2 24.215
- R3 24.975
- R4 25.211
Support
- S1 24.215
- S2 24.746
- S3 24.000
- S4 23.567
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.