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Weekly forecast Swiss Franc / Singapore Dollar technical chart
Symbol CHFSGD

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Trading suggestion:

  • We have already opened Sell trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 1.46950 is broken, we will close open trades.

DateMay 1, 2021 - 18:34
Currentrange bound
Forecastresumption of downtrend

Midterm forecast:

  • While the price is below the resistance 1.46950, resumption of downtrend is expected.
  • We make sure when the support at 1.42000 breaks.
  • If the resistance at 1.46950 is broken, the short-term forecast -resumption of downtrend- will be invalid.
  • We will close our open trades, if the Midterm level 1.46950 is broken.

Technical analysis:

  • The RSI resistance #1 at 45 is broken, so the probability of resumption of downtrend is decreased.
  • While the RSI downtrend #2 is not broken, bearish wave in price would continue.
  • A trough is formed in daily chart at 1.4440 on 04/28/2021, so more gains to resistance(s) 1.4555 and maximum to Major Resistance (1.4695) 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 58.

Take Profits:

  1. 1.4555
  2. 1.4440
  3. 1.4360
  4. 1.4200
  5. 1.3970
  6. 1.3590
  7. 1.3265
Click on the level to view price action history.

Symbol Released Current Forecast
Swiss Franc / Singapore Dollar (CHFSGD) new free Sun, 14 Apr 2024
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