CHF/SGD 1H Chart: Falling Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Following a break above the yearly high of 1.4314, CHF/SGD proved that is not ready for the area yet with a slip in January. Currently, however, it appears that the pair will be attacking the area once again as a falling wedge was sketched during the downfall. The pair might, however, also turn the wedge into a channel down pattern which would then give out completely different signals as set a target below at 1.4189 and ultimately at 1.4143 – the January 26 low. While making its way towards the upper boundary of the wedge at 1.4256, the pair will encounter 1.4245 on its way.
© Dukascopy Bank SA
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