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AUDCAD trade ideas

Bearish drop?AUD/CAD is rising towards te pivot nd could could reverse to the pullback support. Pivot: 0.90381 1st Support: -.89057 1st Resistance: 0.90834 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
Short
by ICmarkets
AUDCAD - Triangle Breakout approaching NewsAUDCAD consolidating after some high volatility whipsawing. AUD and CAD news is approaching so may see some volatility prior to the release as traders position themselves based on predictive sentiment and then a recurrence after the news as they factor in reality if not in synch. There is a high likelihood of fake-break and returns to the pattern given the extreme range of opinions displayed through the recent previous breakout-and-reversal.
by fugutrader
AUDCAD | Hidden Bearish Divergence The AUDCAD chart shows the formation of a Hidden Bearish Divergence, indicating that the current uptrend may soon reverse into a downtrend. Additionally, there is high-impact CAD news today with the release of the CPI data. On the chart, there is also the formation of parallel channels. We expect these channels to break soon, supported by the confirmation of the Hidden Bearish Divergence. In summary: 1: Hidden Bearish Divergence: Indicates a potential reversal from an uptrend to a downtrend. 2: High-Impact CAD News: The release of CPI data today could significantly influence the price. 3: Parallel Channels: The chart shows parallel channels, and a breakout is anticipated soon. These factors together suggest a potential shift in the trend, but it's crucial to monitor the news and conduct thorough analysis before making any trading decisions.
Short
by awaisulabdeen
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