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FX.co ★ AUDCHF M5: Bearish Flag

AUDCHF M5: Bearish Flag

Bearish FlagThe Bearish Flag pattern has formed on the AUDCHF M5 chart. Its lower boundary passes through 0.5664/0.5668, while its upper boundary passes through 0.5668/0.5672. The projected flagpole height is 7 points. The formation indicates that the downtrend is likely to continue. A break below 0.5664 would confirm further downward movement.
The M5 and M15 time frames may generate more false entry signals.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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