CHFSGD SHORTShowing some Sell signals and Ema + RSI confirming.
After 20% right direction will move SL to Bearkeven and take 50% of profit.
SGDCHF trade ideas
CHF/SGD 1H Chart: Bearish sentimentThe Swiss Franc has been appreciating gradually against the Singapore Dollar since mid-January. This bullish sentiment, however, has allayed during the previous sessions, thus bounding the rate in an increasingly narrower trading range.
Meanwhile, the pair tested the upper boundary of the senior channel down near 1.4250 on February 9. This factor could serve as another confirmation that the bearish sentiment could finally take the upper hand in the nearest time. A possible target within the following weeks in the bottom line of the senior channel in the 1.3800/1.3850 territory.
If looking at the pair’s possible direction this week, the Franc is expected to recover slightly from its four-day fall and reach the combined resistance of the 100– and 200-hour SMAs and the weekly PP circa 1.4150.
CHF/SGD 1H Chart: Rate signals to declineCHF/SGD has been trading in a steep ascending channel for two weeks now. This pattern formed shortly before the rate breached the dominant eight-week channel on January 25.
Following this breakout, the pair continued to edge higher; however it has since failed to reach the upper boundary of the junior channel. Thus, it seems that the prevailing bullish sentiment might be gradually losing strength.
The pair is currently trading near the 1.4150 mark which is likewise reinforced by the upper boundaries of two channels (the senior one was formed in late 2016). All these signals point to a soon decline. However, in order to confirm this scenario, the Franc should breach the 55– and 100-hour SMAs near the 1.4075 mark. The pair’s subsequent move then should be a retracement from the breached channel circa 1.39—an area which is likewise reinforced by the 200-hour SMA, the monthly PP and the 38.20% Fibo.
In the meantime, some minor upward movement within the following session or two is still possible.
CHF/SGD 1H Chart: Franc returns near senior channelThe Swiss Franc’s movement against the Singapore Dollar during the previous three months has been constrained by a rather flat channel down. The pair started to form the most recent wave up within this pattern early in January. This upward movement has since resulted in a junior channel.
The upper boundaries of both patterns near the 1.3820 mark were tested late Friday. The Franc managed to bounce off this line and test the 200-hour SMA. However, the monthly PP reversed the rate back north near the psychological 1.37 level.
Given that the pair has overcome the 55-, 100– and 200-hour SMAs and the weekly PP circa 1.3740, bulls could continue to dominate today, as well. A possible upside target is the monthly R1 at 1.3860. By an large, the pair’s trading could be driven by bearish momentum within the following week, as the upper boundary of the senior channel is expected to hold. The Franc might target the 1.3520 where the bottom boundary of the senior channel is located.
CHFSGD SetupHi Traders watch for a support to buy, the flag was broken so a possibility exist to have support at this level.
CHF/SGD 1H Chart: Pair respects senior channelCHF/SGD has been dominated by two channels. The medium-term pattern has confined the rate since late October. The pair failed to reach its upper boundary earlier this week, when the senior channel forced the Franc to reverse from the 1.3730 mark.
Technical indicators show mixed results about the pair’s direction during the following sessions. As apparent on the chart, the Franc has been trying to overcome the 55-hour SMA—an area which is likewise reinforced by the weekly PP and the 61.8% Fibo.
This strong resistance cluster is expected to pressure the rate lower during this session. This fall, however, should not be long-lasting, as the weekly PP and the 200-hour SMA are located nearby circa 1.3620. As a result, these two barriers could bound the rate for several sessions.
Its subsequent movement might be lower, setting the 1.3520 area as a possible downside target.
Re-testThere's a re-test to breakout this resistance next year. Hope to break to become more bullish for the first week of 2018
Supply vs Demand = Price will make it affectIf the supply will increase the demand will decrease the price will become cheaper , because no people wants to buy . But if the Demand of people in a one thing supplier can change the price it can go UP like this scenario you can see the big rejection then after a few day they become a bullish.
Buy CHFSGDMonthly 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 1H Chart: Channels prevailCHF/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 reinforced by the fact that the rate might try to move away from the 1.3550 mark—its lowest level since early 2015.
In the short-term, however, the rate is likely to trade relatively sideways, given the movement of a minor three-day channel (drawn with dashed lines). The rate might hold this consolidation phase during this week and then resume its upward movement.
A near-term upside target is the weekly R2 and the monthly PP circa 1.3775.
CHF/SGD 1H Chart: Pair remains near channel lineThe 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 near the upper boundary of the senior patter for several weeks.
The Franc has failed to reach the lower boundary of the junior pattern since last week, thus suggesting to a possible breakout north. However, given that this side is restricted by the upper channel line and the 200-hour SMA circa 1.3880, this surge might not be long-lasting.
The rate might still trade lower down to the monthly S2 circa 1.3750; however, bulls should eventually take the upper hand and thus make a breakout from both channels.
CHF/SGD 1H Chart: Channel DownThe Swiss Franc is trading in a channel down against the Singapore Dollar. The given formation was created when the rate bounced off the bottom boundary of a longer-term falling wedge and continued to move in the same range even after this patter was breached. From theoretical point of view, the Franc should have appreciated after the breakout; however, given the chaotic nature of the pair’s movement in the wedge, bulls could not to prevail. The pair is currently stranded from the upside by the 55– and 100-hour SMAs and the 100% Fibonacci extension line (drawn from the July high). In short-term, the rate is expected to test the upper channel boundary, which is reinforced by the 200-hour SMA circa 1.4050. Subsequently, the pair may trade even higher, taking into account technical indicators which suggest that a further momentum north is a likely option.
