XAGUSD prices are undergoing a downward correction after failing to break above the 35.00 USD level. The trend remains upward, with growth likely to continue. Find out more in our XAGUSD analysis for today, 24 October 2024.
XAGUSD quotes are currently undergoing a downward correction on the H4 chart, rebounding from the upper boundary of the ascending price channel. The price hit a new annual high of 34.86 USD. Once the correction is complete, further growth to the area above 35.00 USD can be expected.
The short-term XAGUSD price forecast suggests that if bulls seize the initiative and gain a foothold above 34.00 USD, the price could rise further to the annual high of 34.86 USD. If bears push the quotes below the 33.50 USD support level, the decline could continue towards 32.00 USD.
Silver (XAGUSD) prices are correcting downwards after reaching another annual high of 34.86 USD. The pair may experience increased volatility today following the release of the US statistics, which will provide data on the S&P Global Composite Purchasing Managers’ Index (PMI).
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