XAGUSD: Bearish Trendline Continues to Cap Recovery

Jul 7

XAGUSD has staged a notable recovery from its lows, but upward momentum is stalling as the price approaches the bearish trendline around the 61.90–62.00 level. This zone has repeatedly triggered selling pressure, so the rejection observed here is not a random occurrence.

On the H4 timeframe, the price has yet to break the prevailing bearish structure. Silver remaining below the trendline—and close to the overhead Ichimoku cloud—indicates that buyers lack the strength to regain control. Additionally, the recovering USD and market anticipation of further signals from the Fed leave XAGUSD vulnerable to profit-taking following its short-term rally.

If the price fails to break above 61.97, selling pressure could extend toward 59.06, or even deeper to the 56.42 demand zone.

Entry Focus: Sell around 61.90–62.10 upon a rejection candle.
TP: 59.06
Invalidation: H4 close above 62.20.

Jul 8

Trade active