• May 21, 2024
  • Trade ideas

AUDCHF: Expanding Triangle Pattern

AUDCHF, H1

audchf-h1.png

In the H1 timeframe, AUDCHF has formed an expanding triangle pattern following a bearish trend, offering two possible scenarios:

• If the price rebounds from the trendline, the asset could rise to 0.5880.

• Alternatively, breaching the 0.5850 support level may lead to a decline towards 0.5830 support.Top of Form

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.

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Author: Timur Yurdagyul