AUDUSD, H4
On the H4, AUDUSD, in a short-term bullish trend, reached an important resistance level. The indicators do not show a clear signal, but considering that the price has already bounced several times from the resistance area, two possible scenarios should be considered.
- If the price breaks above the resistance at 0.6630, the growth is possible up to 0.6700;
- However, if the price bounces off the resistance for the sixth time, USDCAD will fall to the support at 0.6560;
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.
