EURAUD, H4
On the H4, EURAUD is in a bearish trend, but the price bounced off the support, reached the trend line, and is testing the resistance. The MA200 is showing a bearish signal, but the Momentum indicator has risen above 100.0, which may indicate the start of a bullish trend.
- If EURAUD rises above the resistance 1.6340 and breaks the trend line, the growth will continue to 1.6420;
- In case of a bounce from the trend line, the price will fall to 1.6230;
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.
