CHFPLN trade ideas
CHFPLN: Long opportunity within a 1D Rectangle.The pair has been trading sideways within the 3.94000 1D Support and the 4.05500 1D Resistance since early August, forming a Rectangle pattern on 1D (RSI = 42.228, MACD = -0.007, Highs/Lows = -0.0314, ADX = 25.098).
At the moment it is near the 1D Support, hence on optimal buy levels, even though the RSI shows there is still a minor potential for a lower pull (if the previous bottom is repeated). Our Target Zone is 4.04000 - 4.05500.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
Previous Target hit. Trading suggesting within a Triangle.The last long TP = 3.81038 was hit and shortly after CHFPLN has started a sharp decline on 1D, which has evolved into a Descending Triangle (RSI = 44.646, STOCH = 47.472). The Highs/Lows = 0.0000, MACD = -0.008, B/BP = -0.0069 indicate that the 3.67500 support will be tested again before a new Lower Low near 3.7000 and a final test of the support before the pattern breaks out. We will trade accordingly.
CHF/PLN may find a near term support.It has to be said, that 2017 was a very good year for the Polish Zloty. One reason is the strong global risk sentiment but
strong Polish economic numbers and the change in government has also played a role.
Regardless of how you feel about the Emerging-market currencies and CHF/PLN in particular, one could argue that they are getting close to a bounce. It may not be the ultimate low, but I think value players will be looking soon at these currencies.
Disclaimer: I have no CHF/PLN position, but may initiate one in the coming days.
CHF/SGD 1H Chart: Channel UpCHF/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 seen uptrend that is backed up by the 55-, 100- and 200-hour SMA from the bottom.
At the moment, the currency pair has no barriers on its way up until the weekly R1 at 1.4285.
The further movement to the top is also supported by the general market sentiment, which is 74% bullish.
However, if the rate will fail to climb above the 1.4240-1.4260 area this might be a sign of an existence of senior ascending channel.