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Aug 12, 2024

XAGUSD: Navigating the Trendline

XAGUSD, H4

XAGUSDH4.png

In the H4 time frame, XAGUSD navigates within a trendline and aims at 28.10 resistance. The DeMarker oscillator indicates an overbought condition, giving the asset bearish momentum.

  • If the bulls push the price above the trendline, XAGUSD will rise to 29.00;
  • A rebound from the 28.10 resistance will drop the price to 1.2620 and 1.2580.

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.

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Timur Yurdagyul

Author: Timur Yurdagyul

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