XBRUSD, Daily
In the Daily Timeframe, XBRUSD fell sharply after the OPEC meeting but recovered to the 61.8 Fibonacci level. Indicators are giving mixed signals, so traders should consider two options.
- If Brent falls below the 81.00 support, it will fall to 77.00;
- Otherwise, a rebound from support will allow XBRUSD to rise to 84.20;
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
