XNGUSD — Ready for a Reversal?

XNGUSD, Daily

The asset has formed an inverse head and shoulders pattern. The price is currently testing a key resistance level at 3.81.

If XNGUSD breaks the descending trendline and holds above the 3.81 resistance, the upward move may accelerate toward the 4.50 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: FBS Analyst Team

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