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Weekly forecast Swiss Franc / Singapore Dollar technical chart

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.39644 to 1.38792). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (1.39644)
  • Ending of entry zone (1.38792)

DateJune 4, 2023 - 15:21
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.47714, resumption of uptrend is expected.
  • We make sure when the resistance at 1.51200 breaks.
  • If the support at 1.47714 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 1.47715 on 05/05/2023, so more gains to resistance(s) 1.49550, 1.50520 and maximum to Major Resistance (1.51200) 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 45.

Take Profits:

  1. 1.42438
  2. 1.43585
  3. 1.44667
  4. 1.45894
  5. 1.48304
  6. 1.49550
  7. 1.51200
  8. 1.52200
  9. 1.54200
Click on the level to view price action history.