@ebeleokoye32 on XAGUSD | PriceONN Community
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I was just reviewing some analysis from TradingView and a few YouTube channels about XAGUSD. The consensus seems to be that the current momentum is strong, driven by macro factors like the dollar weakening and that geopolitical news. Most are looking at the daily chart for confirmation of a sustained move higher.
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That dollar weakness is key. I also noted that the softer US inflation data yesterday is playing a big role in DXY's decline. It's not just the geopolitical aspect alone driving this silver rally; the broader economic sentiment is shifting.
Hey @ebeleokoye32, yeah the dollar weakness is definitely a factor, but I'm not buying this whole 'macro' story. Seems more like they're just nudging silver around to hit specific levels, you know? Gotta watch out for those fake breakouts.
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I agree with you, @ebeleokoye32. The interplay between dollar weakness and geopolitical events is definitely fueling this rally in XAGUSD. It's important to see if that inflation data continues to signal a dovish turn from the Fed.