XNGUSD: What's Next?

XNGUSD, Daily

In the Daily timeframe, XNGUSD retests the 2.150 resistance aligned with the golden Fibonacci ratio. The RSI shows the asset's oversold conditions, potentially indicating a bullish sentiment for the asset.

If the bulls push the price above the resistance at 2.150, it will start to rise to 2.380;
However, if XNGUSD rebounds, it will fall to the 1.900 support 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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Author: Timur Yurdagyul

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