XBRUSD: Long-Term Analysis

XBRUSD, Weekly

On the Weekly timeframe, XBRUSD breached below the global trendline and faced the 76.00 support line. William’s Lips line (yellow) breaks the Jaws (blue) line down, and the price aims to break below the nearest lower Fractal support. The Momentum oscillator crosses the 100-line down, giving an additional bearish sentiment for the asset. However, rising tensions in the Middle East could drive up the price of black gold.

If XBRUSD fails to surpass the 76.00 support, it will trigger a rise to 86.00;
Conversely, breaching below the lower fractal will drop the asset to 64.00.

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.

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Author: Timur Yurdagyul

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