CHF/SGD 4H Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator 4H 1D 1W
MACD (12; 26; 9) Buy Buy Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Buy Sell
Alligator (13; 8; 5) Buy Buy Buy
SAR (0.02; 0.2) Buy Buy Buy
Aggregate

The Swiss Franc is trading against the Singapore Dollar in a medium-term ascending channel. Formation of the pattern began after a heavy depreciation of the Franc in the last days of March. Due to the speech delivered by the ECB President Mario Draghi two days ago the currency rate did not manage to reach the bottom trend-line of the channel and made a premature rebound near the weekly PP at 1.4279 supported by the 100-period SMA at 1.4274. After reaching the upper edge, the pair has slightly dropped once again. Nevertheless, an hourly chart shows new attempts to break though the monthly R1 at 1.4418 and weekly R2 1.4421. If the pair succeeds, a new short-term channel up might be formed within the senior pattern. If it fails, the pair is expected to tumble to the same level where it started to climb two days ago.

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