Market Analysis of XAGUSD on Friday 26 JULY 2024

2024-07-26 18:55Source:BtcDana

Technical Analysis:
Silver is trading near the 0.618 Fibonacci ratio on the daily chart, with prices attempting to hold at these levels. On smaller time frames, the consolidation suggests a base formation is underway. If an impulsive move occurs, it could signal a long opportunity. Additionally, there's a fair value gap (FVG) near the 0.618 level, indicating a potential retracement move from the current levels.

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