XTIUSD, Daily
In the Daily timeframe, XTIUSD rebounded from the crucial 77.90 support level aligned with the 38.2 Fibonacci ratio. 100-MA gives an extra layer of support for the asset.
- If the price rebounds from the support zone, it will propel the asset to the 84.00 level;
- However, if XTIUSD is breached below the 38.2 Fibonacci ratio, the asset will drop to 74.20.
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.
