XAGUSD Pair Buyers Look for Bullish Continuation
Login

XAGUSD Pair Buyers Look for Bullish Continuation

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

XAGUSD Price Analysis – June 6

After failing to profit from the weaker DXY on Friday, the XAGUSD saw some buying near the $27.00 mark. As buyers hunt for upside continuation, the pair is correcting but could be headed for a new high. As buying interest ramped up at the $27.22 level, silver is currently pushing up against the upside limit at the $28.00 level.

Key Levels
Resistance Levels: $30.13, $28.75, $28.32
Support Levels: $27.50, $27.00, $26.72
XAGUSD Long term Trend: Ranging
As a result of the buying interest around the $27.22 level, negative momentum has strengthened significantly. If buyers can push the price above the cloud and the resistance zone that has formed between $28.00 and $28.32, the price might swiftly test the nearby high of $28.90.

On the downside, first support might come from the $27.50-$27.00 range, and a conclusive violation of this long-term support zone could send the price crashing into the $26.72 and $26.00 lows, respectively. If the price follows the pattern, the metal’s bullish bias may be weakened, and bears may reclaim the lead.
XAGUSD Short term Trend: Ranging
Silver appears to be heading at a technical hurdle at the $28.00 level, as seen on the 4-hour chart. If the barrier holds, XAGUSD is anticipated to find support near the $27.50 level, thanks to a 4-hour moving average of 5, and return to extend gains against the US Dollar in the short term.

The upside range between $28.00 and $28.90 might be a viable upside target; in the meantime, bears are unlikely to win the market. A persistent break below, on the other hand, will be considered as the first symptoms of bullish tiredness, putting the pair at risk of testing the important $26.72 level.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing result

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News