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Published: 2 June 2026,07:27
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XAGUSD, H4:
Silver has been trading in a prolonged sideways consolidation pattern around the 75.65 level, indicating a period of equilibrium between buyers and sellers following its previous decline. The lack of further downside progress suggests that bearish momentum may be gradually fading.
Recent price action points to improving market conditions, with selling pressure appearing to weaken as the metal continues to stabilize within its current range. This consolidation phase could provide the foundation for a potential recovery if buyers are able to regain control of the market.
Momentum indicators are beginning to support a more constructive outlook. The Relative Strength Index (RSI) is hovering around the midpoint, indicating that bearish momentum has largely dissipated and that the market is transitioning toward a more neutral stance. Meanwhile, the Moving Average Convergence Divergence (MACD) is forming a higher-low pattern and has started to move above the zero line, suggesting that bullish momentum is gradually building.
Resistance Levels: 77.40, 80.90
Support Levels: 74.00, 70.26
EURJPY, H4
EUR/JPY has been trading within a higher-low price structure, reflecting a constructive technical outlook and indicating that buyers continue to maintain control of the broader trend. The pair is currently advancing toward its recent peak near the 185.95 level, a key resistance area that could determine the next directional move.
The formation of successive higher lows suggests that underlying bullish momentum remains intact, with market participants continuing to accumulate positions on dips. This positive price structure often precedes further upside extension, provided that resistance levels are successfully overcome.
Attention is now focused on the immediate short-term resistance zone around 185.95. A decisive breakout above this level would represent a strong bullish signal, confirming the continuation of the prevailing uptrend and reinforcing positive market sentiment toward the pair.
Should buyers gather sufficient momentum to clear this resistance, EUR/JPY could extend its gains toward the next upside targets at 186.41 and 187.38 respectively. These levels represent the next key resistance zones where profit-taking activity and renewed selling pressure may emerge.
Resistance Levels: 186.41, 187.38
Support Levels: 184.45, 184.44
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