• Nov 21, 2024
  • Trade ideas

XAGUSD: Rising Wedge

XAGUSD, H4

XAGUSDH4.png

XAGUSD currently navigates within a bullish rising wedge and just rebounded from the 31.00 support level and the lower border of the pattern.

The price faces the resistance from the DEMA and TEMA lines.

  • If the price breaks above the DEMA and TEMA, it will rise to 31.60 resistance.
  • However, if XAGUSD breaks below the 31.00, the asset may fall to 29.80.
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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