Capricorn_Trader

CHFSGD bullish gartley pattern complete

Long
CAPITALCOM:CHFSGD   CHF/SGD
On the monthly time frame price broke the monthly resistance of 1.4294 that have been rejected multiple times since November 2004 and is now testing it as support. The Swiss franc against the Singaporean Dollar cross pair is also helped by a bullish trend line support that have helped in pushing price higher.
On the weekly time frame the 1.4294 support being tested aligns perfectly with the 50% Fibonacci retracement level. RSI is over sold.
On the daily time frame there is bullish divergence and the complete bullish gartley pattern.
On the H1 time frame there is double bottom on the monthly support.
Long positions can be opened at the current price and target set at 1.6000 psychological level which aligns exactly at the 161.8% Fibonacci extension level.