AUDCAD has recently signaled a bearish breakout within its previously bullish trend. This breakout suggests that there might be a retracement towards a specific zone, which is located near the 38% to 50% levels on the Fibonacci retracements. A potentially profitable short trade opportunity could arise, offering a potential gain of 50-100 pips.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.