EURCAD, H4
On the H4, EURCAD formed a symmetrical triangle pattern, given the high volatility. The pair has no clear trend, but now the price tests the triangle's upper boundary, which can serve as an essential point for further movement.
- If the trend line is broken and the price rises above the resistance at 1.4660, the price will increase to 1.4710;
- A rebound from the trend line will bring EURCAD back to the lower trend line to the support at 1.4610;
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.
