XBRUSD: Small rebound

XBRUSD, H4

On the H4, XBRUSD has formed a descending channel pattern. The price reached the lower trendline and bounced, with %R coming out of the overbought zone and the price crossed the TEMA.

We consider buying XBRUSD on a rise above 63.50 with a target to the upper trendline at 65.20;

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: Egor Schmidt

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