XAUUSD, H1
XAUUSD is currently forming a bearish rising wedge pattern on the H1 timeframe, with a target at the 2350 support level. Here are the potential scenarios:
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A rebound from the 2350 support could lead to a rally towards the 2380 level;
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Alternatively, breaking below the pattern's lower border may initiate a decline towards 2330 or even 2305.
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.
