Indicator | 4H | 1D | 1W |
---|---|---|---|
MACD(12;26;9) | Buy | Buy | Buy |
RSI(14) | Neutral | Neutral | Neutral |
Stochastic(5;3;3) | Neutral | Sell | Neutral |
Alligator(13;8;5) | Buy | Buy | Buy |
SAR(0.02;0.2) | Buy | Buy | Sell |
Aggregate | ⇗ | ⇗ | ⇒ |
The CHF/SGD exchange rate has been trading upwards within a rising wedge pattern since the beginning of May. The rate has already surpassed the 1.4650 mark.
From a theoretical perspective, it is likely that the currency pair could continue to trade within the given pattern until the middle of June. Then, a breakout south could occur. In this case the pair could gain support from the Fibo 61.80% at 1.4422.
Meanwhile, note that the exchange rate is supported by the 55-, 100– and 200-hour SMAs in the 1.4650 area. Thus, some upside potential could prevail in the market, and the rate could exceed the 1.4800 level.