CHF/SGD 1H Chart: Ascending triangle pattern in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)SellSellSell
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The CHF/SGD currency pair has been trading within the ascending triangle pattern since the beginning of November.  

Currently, the exchange rate is testing the lower pattern line located at 1.3680. From a theoretical point of view, it is likely that a reversal north could occur in the nearest future, and the rate could reach the upper triangle line at 1.3800. Also, from a theoretical perspective, it is likely that a breakout north could occur in the medium term. Important level to look out for is the Fibo 50.00% at 1.3886. 

However, note that the pair is pressured by the 55-, 100– and 200-hour SMAs. Therefore, if the given pattern does not hold, a breakout south could occur within the following trading sessions. In this case, the rate could decline to the Fibo 23.60% at 1.3583.

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