HomeContributorsTechnical AnalysisCHF/SGD 4H Chart: Rising Wedge Pattern In Sight

CHF/SGD 4H Chart: Rising Wedge Pattern In Sight

Since the end of October, the CHF/SGD currency pair has been trading within a rising wedge pattern.

From a theoretical point of view, it is likely that the exchange rate could breach the predetermined pattern south within the following trading sessions. Note that the rate could gain support from the monthly S1 and S2, located at 1.4754 and 1.4564 respectively.

In the meantime, note that the currency pair could gain support from the 200-period moving average near 1.4900. Thus, some upside potential could continue to prevail in the market.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading