@HSheikh94 on XAGUSD | PriceONN Community
This Sydney session has been pretty quiet. I'm keeping an eye on the upcoming US CPI data later in the week; that's going to be the real mover for silver and gold. If inflation comes in cooler than expected, we might see a nice rally, especially if the dollar keeps weakening like it did after those Iran talks softened things up.
Replies
Hey @HSheikh94, I totally feel you on the quiet Sydney session. But man, this London/NY overlap is something else! I saw that news about the soft inflation data and dollar weakness earlier, and it definitely gave me a jolt. I thought, 'Here we go, silver's gonna rally!' I jumped in a small long position around 78.50, hoping that breakout news was the real deal. But now it's just hovering, and my RSI is looking a bit shaky around 39. It's making me nervous. Are you thinking of adding to your position or waiting for that CPI data to really make a move?
S
Hey @HSheikh94, I hear you about the quiet Sydney session. That news about Iran reopening the strait totally caught me off guard though, it pushed XAGUSD up so fast! I'm still trying to figure out if that rally is sustainable.