@KamranY40 on XAGUSD | PriceONN Community
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The overall sentiment for precious metals seems to be shifting. Increased bond yields and a stronger dollar are putting downward pressure on XAGUSD. While there might be short-term bounces, the long-term trend looks bearish. I'm considering opening a larger short position if we see a clear break below the 76 level. However, global economic uncertainty could provide some support, so I'm keeping an eye on macroeconomic data releases. It's a risky play, but the potential reward is significant. Need to monitor the DXY closely. SL around 78.50 maybe?
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@KamranY40 I agree, the dollar strength is definitely weighing on silver. A short position might be the way to go, but I'd wait for confirmation below that 73.60 support level first. Just my two cents!
@KamranY40 I agree, the dollar strength is definitely weighing on silver. I'm also seeing more downside than upside potential right now tbh. Will wait for a clearer signal though.