Market Analysis
XAGUSD week ahead: silver holds gains, what to watch 2026-08-10
Silver closed last week at 63.516 after a sharp run higher, and this week is about whether that momentum holds against a stretched long position.
2 min readSOLUSD opened Monday at 73.46 and closed Friday at 73.53, a net move of roughly 0.1 percent across the week. The tape spent most of the week grinding between the low 72s and mid 74s. The one clear wobble came Thursday, when price dropped from a 73.88 open to a 72.51 close and printed the week's low at 72.17 before Friday's volume-heavy session clawed the loss back.
The economic calendar carries no scheduled high-impact events for SOLUSD this week, so the story is driven by broad crypto flow and the dollar tone. The macro backdrop worth tracking is the dollar: USD/JPY has already erased its non-farm payrolls drop, and a firmer dollar tends to weigh on crypto risk appetite.
The secondary theme is China policy signalling. The PBOC's USD/CNY reference rate is in focus, and a stronger fix can pull risk sentiment with it. With no token-specific catalyst on the docket, expect SOLUSD to trade off correlation with the wider majors rather than its own headline. Open an LHFX account to trade SOLUSD this week.
If price closes above last week's 74.65 high early in the week, the round 75.00 handle is the next obvious reference and buyers keep control. If it stalls under 74.65 and rolls over, the 72.17 low from Thursday comes back into focus. A firm dollar move often drags BTCUSD and the rest of the crypto board in the same direction, so watch that correlation before assuming SOLUSD moves alone. A daily close back below 72.17 would put the week's balance in sellers' hands.
Positioning shows 61 percent of open interest long against 39 percent short as of the Monday reading. The crowd leans long into a week that closed almost flat. That skew tells you consensus expects the recovery to continue, and it also means a downside break has more stops beneath it to fuel a move if the dollar pushes higher.
The reference band from last week runs from the 74.65 high to the 71.81 low. The 72.17 Thursday low sits inside that band as the first support test, and 75.00 is the nearest round number above the range top. These are reference levels for framing the week, not entry signals.
Byline: LHFX Research
Risk disclaimer. CFD trading involves substantial risk and is not suitable for every investor. Leverage works both ways and can amplify losses beyond your initial deposit. The analysis above is general market commentary and does not constitute investment advice or a recommendation to buy or sell any instrument. LHFX is regulated by the FSC Mauritius and the FSCA in South Africa.
