USDCAD, H4
In the H4 timeframe, USDCAD tests the crucial support zone at the 1.3670 level after the rebound from the trendline. 50-MA crosses the 100-MA from above, which adds an extra bearish sentiment for the asset.
- If the price surpasses the 1.3670 support, it will trigger a fall to 1.3610 support;
- However, if USDCAD rebounded from the support zone, the corrective bullrun will propel the asset to 1.3750.
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.
