@amitchowdhury29 on XAGUSD | PriceONN Community

Hey @amitchowdhury29, good question about XAGUSD's direction for next week. I'm watching this Asian session closely. The surge today was significant, clearly reacting to that cooler inflation data and the weaker dollar we saw. It's pushed us past the 50 SMA and even challenging the 200 SMA. The RSI is quite high at 73.4, which usually signals overbought conditions, but given the recent news flow, I wouldn't be surprised if we see a bit more upside.

On the H4 chart, as Omolara mentioned, there might be a bullish flag forming, which could indicate continuation. However, we need to be cautious. Pivots show R1 at 79.54 and R2 at 79.78. If we break through these resistance levels with conviction and sustained volume, then a move higher is definitely on the cards. Otherwise, a pullback towards the 78.30 area (the 20 SMA) or even the main pivot at 79.39 could occur before the next leg up. Long-term, the fundamentals look supportive, but short-term profit-taking is always a possibility. Keep an eye on the DXY for further clues.