XAGUSD: Golden Fibonacci Pocket

XAGUSD, H2

On the H2 timeframe, XAGUSD recovering after a correction, facing the golden Fibonacci ratio at the 34.20 resistance.

The price breaks above the upper Bollinger band, and the DeMarker oscillator is in the overbought zone, giving a potential bearish sentiment.

If the price breaks above the golden Fibonacci pocket, it will rise the asset to 34.90;
Conversely, rebounding from the 34.20 resistance will lead to a decline to 33.80 and the 38.2 Fibonacci ratio.

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.

Share with friends:

Author: Timur Yurdagyul

Open an FBS account

By registering, you accept FBS Customer Agreement conditions and FBS Privacy Policy and assume all risks inherent with trading operations on the world financial markets.