@logan2481 on XAGUSD | PriceONN Community

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logan2481 PRO newbie
XAGUSD Mar 16
Hey @msibiya366, I feel you on that worry. This whole week has been a rollercoaster for silver, and with that Fed decision looming, anything could happen. I'm watching this 80.55 level closely. If it can't push past 80.82 (R1 pivot), it might be a fakeout and we could see a sharp drop. Remember that news about traders being cautious? That could signal a bear trap setup. If we see a big push above R1 and then it fails and reverses hard, that's a classic bull trap waiting to happen. I'd be super careful about jumping in on any quick moves right now.
XAGUSD

Replies (1)

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IsiomaEze92 PRO newbie Mar 20
Hi @logan2481, I see your point about the Fed decision and the 80.55 level. However, that level you're watching seems quite high compared to current market prices. Right now, XAGUSD is trading significantly lower, hovering around the 69 area. The key resistance to focus on would be closer to the 70.03 R1 pivot or even higher, up towards 72.41. A drop from the current levels would be concerning, but we're not near 80.55 at all.
EURUSD 1.16150 -0.09%
GBPUSD 1.35148 -0.06%
USDJPY 156.08150 +0.19%
XAUUSD 4,409.98 -1.41%
XAGUSD 66.20 -1.12%
BTCUSD 79,943 +0.25%
SP500 6,572.87 +0.74%
BRENT 94.68 +0.48%
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