XAG/USD quotes continue to move within the framework of growth and the formation of a head and shoulders reversal pattern. At the time of publication of the forecast, the price of silver is 38.07. Moving averages indicate an upward trend. Prices have broken through the area between the signal lines upwards, indicating pressure from buyers and a potential continuation of the price increase from current levels. At the moment, we can expect an attempt to develop an increase in the price of the metal and a test of the resistance level near the 38.45 area. From there, we can expect a downward rebound and a continuation of the decline in the price of silver with a target below the level of 33.15.
Silver Forecast XAG/USD for August 8, 2025
An additional signal in favor of a decline in quotes and prices for silver XAG/USD will be a test of the resistance line on the relative strength indicator (RSI) indicator. The second signal in favor of a decline will be a rebound from the upper border of the “Head and Shoulders” reversal pattern. A strong rise and a breakout of 40.65 will cancel the option of a decline in silver prices on August 8, 2025. This will indicate a breakout of the resistance area and a continuation of growth to the area above the level of 42.55. An acceleration in the decline in XAG/USD quotes should be expected with a breakout of the support area and consolidation below the 35.65 level, which will indicate a breakout of the lower boundary of the Head and Shoulders reversal pattern and the beginning of the pattern’s implementation with targets below.
Silver Forecast XAG/USD for August 8, 2025 suggests an attempt to test the resistance area near the 38.45 level. Further, the quotes will continue to fall with a target below the level of 33.15. A strong growth and a breakout of the level of 40.65 will cancel the option of a decline in silver prices. This will indicate a breakout of the resistance area. In this case, we should expect a continuation of the rise in the price of silver with a target at the level of 42.55.
Looking for the Best Forex Broker? We trade at RoboForex. You can receive a rebates from each trade when registering using our partner link
