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XMRUSD Poised for Bullish Breakout: Buy the Dip at $291 for $357 Target

XMRUSD showed a pullback after a minor sell-off from the temporary top $326. It hits an intraday high of $299.53 and is currently trading around $297.86.

Oscillators and moving averages to forecast the trend of XMR

 

CMP- $297.72

 

EMA (4-hour chart)

55-EMA- $291.27

 

200-EMA- $286.65


365-EMA- $287.07. The pair trades above the short and long-term moving averages.

 

Previous week low- $282.40 (Sep 22nd low). Any breach below $280 will drag the pair down to $268.50/$253.

 

Previous week high- $302 (Sep 22nd high).  Any break above $302 confirms minor bullishness, a jump to $310/321 (trend line joining $357.59 and 326.89)/$326.89 (Sep 16th high)/$357.59 (Jul 14th high).

 

Indicators (4-hour chart)

 

CCI(50)- Bullish

 

ADX- above 20 showing neutral bias

Investment Strategy for XMRUSD

It is good to buy on dips around $291-92 with a stop loss around $280 for target profits of $326/$357.

 

 

 

 

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