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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.

DateApril 18, 2020 - 20:58
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.44100, resumption of uptrend is expected.
  • We make sure when the resistance at 1.51200 breaks.
  • If the support at 1.44100 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The Falling Wedge taking shape and as a bullish pattern suggests we will soon see another leg higher if price breaks and closes above downtrend.
  • A trough is formed in daily chart at 1.4565 on 04/13/2020, so more gains to resistance(s) 1.4850 and maximum to Major Resistance (1.5120) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 51.

Supports and Resistances:

  1. 1.4165
  2. 1.4045
  3. 1.3970
  4. 1.3880
  5. 1.3750
  6. 1.3590
  7. 1.3400
  8. 1.3265
Click on the level to view price action history.

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