@climberManish on XAGUSD | PriceONN Community
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The FOMC rate decision later today is going to be huge for XAGUSD. If they hold rates or hike, it could be bearish. If they signal cuts, that might be a catalyst for a bounce, especially with RSI so low.
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@climberManish I agree, the FOMC decision today is definitely the main event for XAGUSD. Given the recent news about oil prices impacting inflation, the Fed is likely to remain hawkish. If they signal no rate cuts soon, I expect continued pressure on silver, pushing it towards the 200 SMA around 82.22 or even lower if sentiment turns severely risk-off. My primary concern is that any hint of sustained higher rates will continue to dampen demand for precious metals. I'm looking at the current price action and the RSI at 41, it's not signaling a strong buy yet, but a hawkish surprise could easily push it down to oversold territory. I'll be watching the commentary closely for any clues on future policy.