CHFSGD ProgressCHF is setup to strengthen in the next upcoming days. Trade with care.Longby t_analysis2
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.by fxjnss2
Long CHFSGD @ 1.36; TP @ 1.39402, SL your choiceLong CHFSGD @ 1.36; TP @ 1.39402, SL your choiceLongby SpiderwebUpdated 0
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.Longby dchua1969Updated 1
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. by UnknownUnicorn8906900
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. by UnknownUnicorn8906902
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. Longby UnknownUnicorn890690Updated 2
SGDCHF Rising Wedge TL BounceBefore I begin I would like to thank anyone who provides feedback. Observing the D and 4h timeframes of SGD/CHF, there is a rising wedge taking place and we are currently testing the lower TL. The price also just tested the .618 fib level (.7150). We just broke a key price area of .718 and this can act as a resistance point . If this hits resistance and the wedge is broken, then a very nice short opportunity will form. The next area of significant resistance past the price of .718 is the .382 fib (.7225) that has played a reversal area in the past weeks. We can see a retracement back to .718 that will act as support. The first TP area is where a lower high would form that is right on the .236 fib (.7271) The second TP area is the top of the rising wedge TL (.7320). I have placed the stop below the .786 fib (.7097) as this will invalidate the continuation of the wedge. Thank you, feedback welcomed!Longby FallnsoulUpdated 2
Long Term, Big Reward Play on CHFSGD Wait for another month or so, then look for Swiss Franc to shoot up come October into the new year. Longby John2112