CHF/SGD 1H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Pair is posing for a further depreciation. That is the main underlying assumption behind the Double top pattern—the pair fail's to reach new high (twice) and then slowly return to the previous levels. A significant rally can be observed before the first top, however, Fibonacci retracements does not seem to have any effect on the pair thus it was excluded from the analysis. At the moment pair is trading slightly below the 200-bar SMA which had significant impact recently and pushed the pair towards the second top, but seems unlikely to stop the pairs trailing lower.

© Dukascopy Bank SA
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