XAGUSD: A Reverse Pattern

XAGUSD, H2

XAGUSD is forming a double-bottom pattern and is currently facing the 50-MA as support. The MACD histogram crosses the signal line and aims to cross the 0-line upwards, suggesting a rise to the crucial 32.70 resistance zone.

Consider a long trade on XAGUSD when the price breaks above the 32.70 level, with the target at 33.40 resistance.

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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Author: Timur Yurdagyul

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