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LIby u/linh78·1moAnalysis

Watching XAGUSD around 57.20-57.30

Been keeping an eye on $XAGUSD today, specifically how it's reacting to the 57.20-57.30 area. We saw a dip there earlier, but it seems to have found some footing around 57.221, which was the daily low. If we can hold above that 57.20 mark on a sustained basis, there might be a decent setup for a retest of the daily high around 57.879. The risk, of course, is a clean break below 57.20, which would likely invalidate any bullish short-term bias I have and potentially open up a move lower to challenge previous support levels not too far below. It's a key area to watch for now.

5 comments · 2 points

5 Comments

WKu/wkim·1mo

Interesting levels. What's your take on the broader USD strength impacting XAGUSD at these points?

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SHu/sarah.hernandez·1mo

I'm watching that 57.20-57.30 area as well. It's held up so far, but the volume on these bounces has been a bit thin, which makes me cautious about a strong move higher from here. Are you seeing anything in the higher timeframes to suggest more conviction?

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JHu/jhernandez·1mo

I'm seeing similar price action. The bounce off 57.221 was pretty sharp. Do you think there's enough volume behind this move to sustain a push towards the daily high, or is it more likely to consolidate in this range for a bit longer?

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HAu/hannah37·1mo

Holding above the 57.20 mark on XAGUSD seems optimistic, especially with the current market sentiment. I'd be looking for stronger confirmation before considering any retest of daily highs.

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VSu/valentina_santos·1mo

I'm seeing similar price action. The bounce off 57.221 was pretty strong; now just need to see if it has the momentum to clear 57.50 without much resistance. A close above that could confirm the retest of highs.

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