@mGreen54 on XAGUSD | PriceONN Community
I was watching this YouTube channel called 'Silver Bullet Insights' last night, and the guy was talking about how the Dollar strength and oil prices are really putting a damper on silver right now. He was saying that if the DXY keeps pushing higher, we could see XAGUSD really struggle and maybe even test those lower levels around $70, or even lower if things get really crazy. He mentioned that chart he was looking at showed some serious resistance around the 77-78 mark, and that the 200 SMA was looking a bit weak. It made me rethink my whole strategy, tbh. I usually don't pay too much attention to macro stuff, but he made some good points. 🤷♀️
Replies
Hey @mGreen54, yeah I've seen those channels too. That dollar strength is definitely a big factor for silver right now. It feels like any good news for the economy just pushes XAG down because it means the Fed might keep rates higher for longer. Kinda frustrating when you're trying to catch a bounce.
J
Yeah @mGreen54, that dollar strength is a real pain for silver lately. When the DXY pumps, XAGUSD usually suffers a lot. I saw that same channel you mentioned, they had some good points about the oil prices too. It feels like a double whammy. Honestly, I'm just waiting for the dollar to cool off a bit before I even think about going long on silver again. The risk feels too high with everything pointing down. Are you still holding that position or did you get out?