@PreetiSinha on XAGUSD | PriceONN Community

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P
Well, the weekend is here and XAGUSD closed around 69.74. I'm curious to see what everyone thinks for next week. Given the geopolitical noise with Iran and the dollar's reaction, are we expecting a gap up or down on Monday's open? Any thoughts on potential levels to watch?
XAGUSD

Replies (1)

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ElenaG34 PRO newbie Mar 31
@PreetiSinha It’s definitely a tricky situation for XAGUSD going into next week. I saw the news about the Eurozone inflation data, which was a bit lower than expected, and that might put some pressure on the dollar, potentially helping silver. But on the flip side, the talk about de-escalation in the Middle East is also a big factor. If tensions ease, that safe-haven demand for silver could disappear very quickly. I'm personally looking at the price action around the 73.50 resistance level. If it stalls there and reverses, I think we could see a sharp decline. I'm not comfortable calling for a gap up with so much uncertainty; I think a gap down is more likely if the geopolitical fears subside.
EURUSD 1.16124 -0.11%
GBPUSD 1.35147 -0.07%
USDJPY 156.26950 +0.31%
XAUUSD 4,429.39 -0.97%
XAGUSD 66.13 -1.23%
BTCUSD 79,999 +0.32%
SP500 6,572.87 +0.74%
BRENT 94.20 -0.02%
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