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Weekly forecast Swiss Franc / Singapore Dollar technical chart
Symbol CHFSGD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateDecember 22, 2019 - 13:52
Currentdowntrend
Forecastcontinuation of downtrend

Midterm forecast:

  • 1.38550 is a major resistance, while this level is not broken, the Midterm wave will be downtrend.

Technical analysis:

  • The descending flag taking shape suggests we will soon see another leg lower.
  • There is a divergence in RSI and price between the trough at 1.37545 on 2019-09-18 and the trough at 1.35895 on 2019-11-07, the probability of downtrend continuation is decreased and the probability of beginning the correction wave is increased.
  • A peak is formed in daily chart at 1.3855 on 12/19/2019, so more losses to support(s) 1.3725, 1.3650, 1.3555 and more depths is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 52.

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