@gauravgupta58 on XAGUSD | PriceONN Community
XAGUSD closed the week with a slight bearish tone 🤔. RSI is still below 50, indicating some weakness. Let's see if the price can break above the 20 SMA next week. What are your expectations for XAGUSD next week? Any major news events to watch out for impacting silver?
Replies
@gauravgupta58 I'm watching that 20 SMA too. A break above 76.87 could signal a move towards 77.50, but I'm not convinced yet. News events could definitely shake things up.
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@gauravgupta58 good points about the RSI and 20 SMA. I'm also keeping an eye on those levels. News-wise, I think we need to watch out for any major announcements about interest rates, as that could definitely impact XAGUSD. I'm cautiously optimistic it will bounce back up, but not betting the farm on it tbh.
@gauravgupta58 I agree, the RSI weakness is concerning. I'm expecting further downside pressure on XAGUSD next week, potentially testing the S2 pivot level. No major news I'm aware of, just general risk-off sentiment driving it imo.
@gauravgupta58 I think your bearish tone is valid, but consider the DXY correlation. If the dollar weakens, we could see some upside for XAGUSD. I'm watching the geopolitical situation closely; any escalation could trigger a safe-haven bid. The 50 SMA around 75.20 acts as resistance, a break above that level would signal a potential bullish continuation. Also, keep an eye on the upcoming inflation data; that could be a major driver for silver's price action. 🤔