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Mar 10, 2025

Trade ideas

XBRUSD: Descending Channel

XBRUSD, H4

XBRUSDH4.png

XBRUSD navigates within a bearish channel, facing the 70.30 resistance.
The 9-MA crosses the 14-MA, while the RSI crosses the mid-line upwards, giving a bullish sentiment.

  • Consider a long trade, if the price breaks above the channel, with the target at 72.30  level.

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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Timur Yurdagyul

Author: Timur Yurdagyul

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