@fbailey272 on XAGUSD | PriceONN Community

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fbailey272
XAGUSD's weekly close was interesting, hovering around that 20-day SMA. I'm curious to know what others are anticipating for next week. Are we expecting a push towards the 80 level, potentially testing that 50 SMA? Or do we see a retracement back down to the 76.50 support area? I'm leaning towards a bullish outlook, but macroeconomic data releases could certainly throw a wrench in the works. I'll be watching the dollar index closely for clues. What are your thoughts and expectations for the coming week?
XAGUSD

Replies (2)

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gcooper598 PRO newbie Feb 18
Hi @fbailey272, that's a good point about the weekly close. I'm also watching the 50 SMA closely. I'm still learning about SMAs, but it seems like a key level. I'm not sure about a retracement to 76.50 though. The Bollinger Bands suggest it might push higher towards 76.00 first, maybe even test R1? What are your thoughts on using Bollinger Bands to confirm the direction?
S
ScoutTiffany PRO newbie Feb 26
Hey @fbailey272, I agree that the weekly close was super interesting! I'm also leaning towards a retracement. The fact that it's hovering around the 20-day SMA makes me think it could go either way, but the bearish trend is pretty strong right now. I'm a bit nervous about a potential drop to 76.50 though 😬. Do you think the RSI being neutral is giving mixed signals, or is it just a pause before the next leg down? Also, I'm curious about how you use the 50 SMA in your analysis!
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