Long CHFSGD @ 1.36; TP @ 1.39402, SL your choice
Monthly chart shows us a triple bottom and the day chart shows it is nearly done with the selling as well. Now it is likely to breakout of the white line from the inverse Cup and Handle pattern. From the candles, it shows weaken selling and buyers are getting stronger as well. We are taking a small position to test our hypothesis. Trade safely.
CHF/SGD has been guided by two opposite channels. The senior formation has restricted the pair in a descending movement since late May. After bouncing off its bottom boundary two weeks ago, the pair formed a junior channel up along the way. These two patterns suggest that the pair should appreciate during the following two weeks, at least. This assumption is...
The movement of the CHF/SGD exchange rate during the past weeks has been characterized by two descending channels. The senior formation which was formed late in August started with two distinctive downward-sloping waves. Subsequently, the rate’s movement become rather chaotic in the result of which the junior channel started to appear. It has confined the pair...
CHF/SGD 1H Chart: Channel Up The Swiss Franc is gaining value against the Singapore Dollar in a short-term ascending channel that started to form after the currency exchange rate bounced off from the weekly S1 at 1.4007. Depending on how you draw the pattern, it will consist of two reaction highs or three reaction lows. In any case, there is a clearly...
CHFSGD 15M Resistance:1.4070 Support: 1.4020 This is not investment advice