XBRUSD, Daily
XBRUSD is currently consolidating and sandwiched between the trendline and the 70.80 support level.
The price is in the accumulation phase after a decline, which can give us a good opportunity to catch a bullish trend.
- Consider a long trade on XBRUSD on a break above 74.30 and the 200-MA with the target at 77.00.
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.
Author: Timur Yurdagyul
