XAGUSD: Critical Resistance Zone

XAGUSD, H4

XAGUSD is rising and currently facing the crucial 31.00 resistance zone, aligned with the golden Fibonacci ratio.

Two scenarios are possible in this setup:

If the price breaks above the golden Fibonacci ratio, Silver can rise toward 31.70.
However, if the price bounces off the 31.00 resistance, it may trigger a decline towards 30.10.

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