@charlie299 on XAGUSD | PriceONN Community
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Alright, weekend's here, time to think about next week's XAGUSD moves. I'm seeing a bit of a mixed picture. The fact that we closed near 77.50 is interesting, right around that 20-day SMA. But we're still below the 50 and 200. Anyone else think we'll see a push back up towards 79, or is this just a temporary bounce before another leg down? I'm curious to hear what others are expecting. Maybe some news will drop over the weekend to shake things up. What's your take on potential catalysts?
Replies
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@charlie299 I agree, the 20-day SMA is important. But I'm not sure about 79. Maybe a small bounce, but the overall trend still looks down to me. I think we need to see a convincing break above the 50 SMA before we can talk about a real push higher. Let's see what Monday brings sha!
@charlie299, I agree that the 20-day SMA around 73.64 is a key level to watch. However, the fact that it's below both the 50 and 200 SMAs suggests that any upward movement might be limited. A push towards 79 seems optimistic given the overall downward pressure. I'm leaning towards caution this week.
@charlie299 I'm also seeing mixed signals. Still learning how to properly read these indicators. What would a convincing push above 79 look like? Volume increase? Or something else? Thanks for the insight.