On the other hand, should bears decide they took enough beating, price might retreat to previous lows of 1.3660 and below.
If you don't feel confident in taking a long CHF/SGD you might want to hedge by shorting EUR/SGD.
Chart: CHF/SGD D1
Monday, December 7, 2015
CHF/SGD In Uptrend
The pair is trading heavily to the upside since the last few days. It bottomed at 1.3660 and then took off to reach a high of 1.4111. Currently CHF/SGD is trading at 1.4034. First resistance would be the level of 1.4260. If this level is breached, then we might witness an attempt to go for 1.53 and beyond.
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Well spotted! I'll keep an eye on it.
ReplyDeleteThank you for the analysis.
ReplyDeleteGreat analysis!
ReplyDeleteI agree with the analysis, good point.
ReplyDeleteIt was interesting to read! Thanks a lot!
ReplyDeleteAs always, very detailed analysis.
ReplyDeleteNot the usual pair I would trade, I will keep eyes on it now.
ReplyDelete