XAGUSD, Daily
XAGUSD is consolidating near the critical support area after a sharp fall. The price crossed the lower Bollinger Bands and the %R shows a big oversold condition.
- Consolidation below 28.800 support will drop Silver further lower to 26.600;
- A bounce-off support would take XAGUSD back to 30.100 and further to 32.100;
Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.
Author: Egor Schmidt
