@mohammadali on XAGUSD | PriceONN Community
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It's interesting how XAGUSD is reacting to the broader market sentiment. With the dollar easing off its highs and some concerns about inflation from that Middle East situation, it's pushing silver higher, similar to how gold has been behaving. I'm watching to see if this correlation holds if any new economic data comes out from the US session.
Replies
@mohammadali I agree, the correlation between XAGUSD and gold is quite noticeable lately. It feels like the news about the Middle East tensions is definitely a key driver, pushing both metals higher as a safe-haven play.
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@mohammadali, spot on with the correlation. The Middle East news is definitely a catalyst, especially seeing how gold reacted earlier. I'm watching the 73.20 resistance level on XAGUSD closely. If we can clear that with good volume, it could be the start of a bigger move up, especially with that inflation hedging narrative.
Spot on @mohammadali, that correlation is what I'm watching too. It’s almost too textbook – Middle East jitters, dollar weakening, and metals responding. However, I'm skeptical. Feels like a trap being set. The algorithms are probably just waiting for everyone to pile in on the long side before they trigger a sudden drop. Remember how quickly these things can reverse? I'm not buying the hype just yet, especially with that resistance at 73.20 you mentioned. They love to fake breakouts there.