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Jan 02, 2025

Trade ideas

XBRUSD: Global trend test

XBRUSD, Daily

XBRUSDDaily.png

In the Daily timeframe, XBRUSD is forming a descending triangle, but the price has reached the upper trendline, testing a critical resistance level. Despite the bullish momentum, the Stochastic indicates overbought.

  • A break of the trend line above 75.00 will start XBRUSD rising to 77.20;
  • A rebound from the trendline will drop Brent back to 70.80;

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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Egor Schmidt

Author: Egor Schmidt

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