After a period of consolidation, where the price remained range-bound, CHF/SGD has now surpassed key resistance levels, signifying bullish momentum. This breakout suggests that the pair is ready to resume its upward movement, possibly gaining further strength.
In terms of price targets, there are three notable levels that could act as objectives for potential profit-taking. The first target stands at 1.52, followed by target 2 at 1.53, and finally, target 3 at 1.54.
Comment
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Last high broken. Still heading higher to the first target... Hold
Excellent long setup. Are you factoring in any upcoming economic events that might impact the trade?
Trader_Landry
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@TheFxAce, Hey ! thanks for your comment bro! Yes, I factor the fact that this exotic pair is correlated to the US dollar. I do think the FED will have a new hike this month so it is a way to play it without going into the more crowded major pairs ;)