AUDUSD, H4
On the H4, AUDUSD is in a long-term bullish trend. The price reached this year's high before falling to the trend line. Despite neutral signals from various indicators, the price is testing the trendline and important support, creating two possible scenarios for AUDUSD.
- If the price falls below 0.6650 and breaks the trendline, the downside target will be 0.6590;
- A rebound from the trendline will allow the price to move back to 0.6710 resistance;
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.
