USDCAD, H1
On the H1, USDCAD has formed a descending wedge pattern, but the price tests the upper trend line. Indicators do not reveal a clear trend, so two scenarios are possible.
- If the price breaks above the resistance at 1.3660, the upside could be up to 1.3690;
- A rebound from the trend line and resistance will bring the price down to 1.3630 support;
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.
