XBRUSD: Bullish Flag Scenario

XBRUSD, H4

Brent is moving within a bullish flag, currently retesting the pattern's upper border at the 65.20 resistance level. The 100-MA gives an additional layer of support for the asset, suggesting two possible scenarios:

If the asset breaks above the 65.20 resistance level, Brent will grow to 67.60 resistance.
However, if the asset fails to break through the resistance level, a decline to 62.10 will begin.

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.

Share with friends:

Author: Timur Yurdagyul

Open an FBS account

By registering, you accept FBS Customer Agreement conditions and FBS Privacy Policy and assume all risks inherent with trading operations on the world financial markets.