Tag: AUDLFX

Weekly Currency Index Technical Analysis – 05 January

Weekly Currency Index Technical Analysis – 05 January

Technical Analysis
Currency Index Notes AUDLFX Bearish flag on weekly with reversal near 127.2%. Expecting a rally to 100% - 78.6% correction. No strong candlestick patterns noted Conclusion: Medium term bullish correction on a larger bearish trend. CADLFX Price broke out from a medium term trend line, dipped to retest break out level and resumes uptrend. Price action tricky as 3 weeks ago, PL pattern was formed, followed by last week's bearish engulfing/DCC pattern. Price above 52 EMA, so we could see a decline to test the 52 EMA + trend line confluence. Conclusion: Short term bearish on a larger bullish price action CHFLFX Price broke out from a major rising trend line, indicating a bearish shift to sentiment. After break out, price rallied to retest the break out l...