Pattern: Emerging bullish channel on 1D.
Signal: Bullish as the price rebounded on the 1W Support and broke the 1D Resistance to start a new medium term uptrend.
Target: 1.4200 (just below the 1W Resistance Zone).
Prices on the CHF/SGD broke out of a interim downtrend on the daily chart, and we can anticipate further upwards movement. Price could find support on the 1.3650 if it forms a correctional structure in the form of a bear flag pattern, and then continue higher. Proper risk management is key especially when trading exotic currencies since there are huge margin...
This little setup caught my eye.
I personally wont trade this pair, as i dont trade exotics...
Thought i would just share if anyone else out there had a bearish view on this pair.
This isnt intended as a signal, just an idea.
Thank you.
Tested the support in the 1.3435 area and broke the previous maximum. The direction is upward towards the target in area 1.39.
Here too I see the appreciation of the Swiss franc well this time against the Singapore dollar. The Heikin Ashi spark plugs are confirming me both in the daily and in the weekly a trend reversal and a start of a new bullish phase.
