AUD/CHF Weekly Analysis

1 дек.

"On Monthly:
Overall is Bearish move towards 0.53400 lowest since 2020.
After a Bearish Engulfing candle last month, it couldn't pull back up to 0.58500.
Mostlikely, it will continue Bearish towards0.56300.
EMA 200, 50 and 20 are all above price.
-- On Weekly:
EMA 200, 50 and 20 are above the price.
It has created Rising Wedge / Correction.
Price was rejected at R. 0.58500 few weeks ago and yet, it has a hard time to breake through S. 0.57200.
--On Daily:
A sort of Double Top is formed and touched 200 EMA twice and got rejected.
It's bouncing on S. 0.57200.
It it breaks the S. 0.57200 and lower trendline and confirmed, then bearish move is set down to 0.56300.
-- On Hourly:
It confirms previous timeframes and complement the overall Bearish preparation consolidation and correction Bullish trend.
All three EMAs, 200, 50 and 20 are squeezing but yet, 200 EMA hasn't been touched or broken.
The Upper trendline of smaller Hourly Rising Wedge has been touched three times and not broken.
It seems it's almost ready to break down.
"