Weekly Currency Index Technical Analysis – 05 January
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...