AUDUSD, H4
On the H4, after bouncing off resistance, AUDUSD broke the trend line and is holding near 61.8 Fibonacci resistance. Given the mixed indicator signals, the price could move in two directions despite the trendline breakout.
- If the price breaks the resistance area above 0.6540, it will rise to 0.6580;
- A fall below MA200 and 0.6520 support will start a bearish trend to 0.6470;
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.
