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FX.co ★ AUDCHF M5: Bearish Flag

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Technical Analysis Patterns

2021-01-18T10:04:00
Signal strength 1 of 5

AUDCHF M5: Bearish Flag

Bearish FlagThe Bearish Flag pattern has been formed on AUDCHF at M5. The lower boundary of the pattern is located at 0.6828/0.6832 while the upper boundary lies at 0.6832/0.6836. The projection of the flagpole is 15 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 0.6828 is broken, the price will move further downwards.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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Other patterns by AUDCHF