CHF/SGD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
Already, since the beginning of March the Swissy has been depreciating against the Singapore's Dollar and in early July it entered a bearish channel that now is a 304-bar long.
A few weeks ago the pair approached more than a year low at 1.3443, that has given some impulses for the currency couple to near the pattern's resistance line around 1.3598. However, CHF/SGD still has not managed to touch the upper trend-line. The main obstacles for that has been the 4H and daily technical indicators that are largely bearish and the SWFX traders' sentiment that is strongly to the downside (72.16%).
© Dukascopy Bank SA
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