CHF/SGD 1H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
The Swiss Franc has been in a recovery mode against the Singapore Dollar; however, this trend may soon come to a logical end. There is a cluster of resistances placed ahead of the spot price between 1.3928 and 1.3946. There the bulls are going to encounter the weekly pivot point and 200-hour SMA that are not among the easiest technical levels to deal with. Technical indicators on various time frames are mixed and so is the SWFX market sentiment (52% long). Thus, chances of a bullish success are about 50/50. A spike above the supply will be forced to expose the pattern's resistance at 1.4012, while the bears are looking at crossing the 100/55-hour SMAs around 1.3866.
© Dukascopy Bank SA
Back to articles

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.