CHF/SGD 4H Chart: Ascending Triangle

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
On a large scale the Swiss Franc is in an ascending triangle pattern against the Singapore Dollar. Most recently the currency exchange rate reached and bounced off from the upper trend line of the triangle's upper trend line. As a result the pair is once more moving down to the lower trend line of the pattern. For clues regarding the direction of the upcoming breakout of the triangle market participants should look at the market sentiment. The pair is clearly oversold, as 70.39% of SWFX trader open positions are short. This indicates at the possibility of the pair most likely breaking out to the upside in the upcoming weeks. However, the changes in the sentiment need to be observed constantly.
© Dukascopy Bank SA
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