• Aug 22, 2024
  • Trade ideas

XBRUSD: What’s Next?

XBRUSD, H2

XBRUSDH2.png

In the H2 time frame, XBRUSD is in a downtrend and faces crucial support at 75.30, aligned with the 100.0 Fibonacci ratio. The RSI oscillator shows an oversold condition, potentially indicating a bullish momentum.

  • If the price rebounds off the 75.30, XBRUSD will rise to 77.50 resistance;
  • Breaching below the 100.0 Fibonacci will drop the price to 72.40 support.
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Timur Yurdagyul