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CHF/SGD 1H Chart: Channel UpCHF/SGD 1H Chart: Channel Up The Swiss Franc is gaining value against the Singapore Dollar in a short-term ascending channel that started to form after the currency exchange rate bounced off from the weekly S1 at 1.4007. Depending on how you draw the pattern, it will consist of two reaction highs or three reaction lows. In any case, there is a clearly seen uptrend that is backed up by the 55-, 100- and 200-hour SMA from the bottom. At the moment, the currency pair has no barriers on its way up until the weekly R1 at 1.4285. The further movement to the top is also supported by the general market sentiment, which is 74% bullish. However, if the rate will fail to climb above the 1.4240-1.4260 area this might be a sign of an existence of senior ascending channel.
by UnknownUnicorn890690
NZD/CHF 1H Chart: Channel UpNZD/CHF 1H Chart: Channel Up The New Zealand Dollar is trading against the Swiss Franc in a two day long ascending channel. Formation of the pattern represents a rebound of the currency exchange rate from the bottom trend-line of a preceding descending channel. By the moment, the channel consists of four confirmation points, which means that it has already reached maturity. Basically, the pattern might cease to exist already by the end of the day. Its vertical and narrow structure makes it very sensitive to various barriers, such as the 200-hour SMA near 0.7115. On an upcoming turn around also point out a number of technical indicators, suggesting the pair is overbought. However, if the rate manages to bypass this resistance level, it will face no other obstacles, including fundamental data releases, up until the monthly PP at 0.7172.
by UnknownUnicorn890690
GBP/CHF 1H Chart: Channel DownGBP/CHF 1H Chart: Channel Down The British Pound is losing value against the Swiss Franc in a vertical descending channel that has formed in the result of a rebound of the currency exchange rate from the upper trend-line of a preceding ascending channel. At the moment, formation of the channel is completed, as it consists of four confirmation points. Hence, if the pair manages to reach the monthly S1 at 1.2440 and the weekly S3 at 1.2429, after bouncing off from a combination of the pattern’s resistance line and the 55-hour SMA, an impulse given from this support level might be strong enough to force the rate to eventually leave the formation in the northern direction. However, even if this scenario materializes, the Sterling is still expected to continue to depreciate at least until the announcement of information on the UK CPI, Average Earnings and Retail Sales.
by UnknownUnicorn890690
GBP/CHF 1H Chart: PennantGBP/CHF 1H Chart: Pennant The British Pound is trading against the Swiss Franc in a short-term pennant formation. The pattern represents the aftereffect of announcement of the UK Official Bank Rate and the subsequent Governor Carney’s speech last week. By the early morning, the currency exchange rate has practically reached the breakout point from the little symmetrical triangle, which represents the pennant. Despite the pressure exercised by the 200-hour SMA from the bottom, the pair is still expected to slide downwards. The overall length of the flag pole should be equal to 50-70 basis points, which basically coincides with the nearest combined support level set up by the weekly S1 at 1.2619 and the monthly PP at 1.2614. After this continuation pattern ceases to exist, the rate most likely is going to make a rebound and the Sterling will start to restore lost positions.
by UnknownUnicorn890690
USD/CHF 4H Chart: Channel UpThe US Dollar is regaining ground against the Swiss Franc in a channel up pattern. Most recently the currency pair bounced off the resistance of the ascending channel. That event was also the cause of the discovery of the pattern. Most likely the currency exchange rate will decline until it meets with the lower trend line of the ascending channel. Coincidentally that might occur at the 23.60% Fibonacci retracement level of the 2016 low and 2017 high levels at the 0.9657 level. Afterwards the currency pair is highly likely going to continue the surge. In that case it will go upwards to the strong resistance cluster, which lasts from 0.9780 to 0.9791.
Long
by UnknownUnicorn890690
CAD/CHF 4H Chart: Channel UpCAD/CHF 4H Chart: Channel Up The Canadian Dollar is appreciating against the Swiss Franc in the medium-term ascending channel. The pattern started to form shortly after the currency exchange rate left a descending triangle pattern and started to move in a new uptrend. For the moment, the channel is made from four confirmation points, which means that it has fully formed. But the fact that this formation took almost a month suggests that the upcoming dissolution might also take several weeks. In the short-run, the pair is expected to bounce off from a combined support level set up by the 55-hour SMA, the lower trend-line and the 100-hour SMA. t should be noted that both technical indicators have been moving along the pattern’s bottom edge and more than once forced the Loonie to make a rebound.
by UnknownUnicorn890690
AUDCHF Preparing To Drop (2 Year Ascending Wedge)Price has broken out of a 2 year ascending wedge to the downside and is now pulling back to retest the bottom of the pattern before it continues its drop. We bounced off of the monthly .5 fib level last week which formed a fantastic outside reversal candle, taking out the previous weeks low and then closing above its high to finish the week. This aligns with the giant 6 year ascending wedge on the USDCHF 0.16% (easy to spot on the monthly line chart) Opportunity -I'm watching for a nice high at the 50 day moving average/fib/bottom of wedge to then short down to the yearly .5/.618 fib area between .673~ and .648~ I'll post specific targets and entry data if/when some nice techs form... Checkout my website @ PatsTrades (link is on my profile page below my picture) for my analysis on other trades like this and subscribe to avoid missing out on ideas and entries. Thanks!!
Short
by patrick186