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Swiss Franc/Singapore Dollar

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CHFSGD trade ideas

SGD/CHF - Long Term ShortSGD/CHF is not holding strong and broke under the 50 EMA on the daily timeframe. MACD daily has also crossed the zero line and we have convergence down. AS the pair goes down, we will see how strong the bearish move is and wheter we can keep holding to the next TPs. First TP: 0.7153 Second TP: 0.7105 Third TP: 0.7055 You must leave enough space for your SL. That is, put it above the daily 50 EMA, or simply, above the last daily candle close with a little bit of space to it. Trade safe.
Short
by MoolahMaker
1
CHF/SGD 1H Chart: Slight downside potentialDownside risks have dominated the CHF/SGD currency pair since the end of September, and the pair breached a medium-term ascending channel north at the middle of October. As apparent on the chart, the pair is being pressured by the 55-, 100– and 200-period SMAs on the 4H time frame. It is expected the pair continues to decline. An important support level to look out for is the Fibonacci 38.20% retracement at 1.3672. If given level holds, most likely, the pair surges towards the Fibonacci 61.80% at 1.3895.
by UnknownUnicorn890690