@jenniferbrown83 on XAGUSD | PriceONN Community

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J
jenniferbrown83 PRO newbie
XAGUSD Mar 13
Good morning, all! Just saw the headline about unexpectedly strong manufacturing data... hmm, might put some pressure on silver to correct a bit. I was hoping for a quiet start to the week, but it looks like we'll have to be on our toes. I'm going to watch the 84 level closely to see if it holds as support.
XAGUSD

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jenniferbrown83 PRO newbie Mar 13
Oh, and another thing about that manufacturing data... it could also strengthen the dollar, which usually has an inverse relationship with silver. So, double whammy maybe??? I'm not panicking yet, but I'm definitely keeping a close eye on the DXY as well. Might be a good idea to lighten positions if we see a big dollar breakout. I'm also wondering if this data will influence the Fed's next move... could be hawkish, which would further pressure silver. Let's see what happens...
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