CHF fundamental data isn't looking great, however, the recent trade talks may push the CHF higher as investor sentiment flocks to safer currencies. Will emotion take control of price or will the weak underlying value of the CHF take into effect on the price.
The last long TP = 3.81038 was hit and shortly after CHFPLN has started a sharp decline on 1D, which has evolved into a Descending Triangle (RSI = 44.646, STOCH = 47.472). The Highs/Lows = 0.0000, MACD = -0.008, B/BP = -0.0069 indicate that the 3.67500 support will be tested again before a new Lower Low near 3.7000 and a final test of the support before the...
CHFPLN is on a strong 1D Channel Up (RSI = 58.946, MACD = 0.025, Highs/Lows = 0.0179, B/BP = 0.0545), rising after making a Higher Low at 3.66326. We are going long with TP = 3.81038 (previous Higher High).
It has to be said, that 2017 was a very good year for the Polish Zloty. One reason is the strong global risk sentiment but
strong Polish economic numbers and the change in government has also played a role.
Regardless of how you feel about the Emerging-market currencies and CHF/PLN in particular, one could argue that they are getting close to a bounce. It may not...
This is not a call to place a trade, but a guide.
You can start building your position according to your MM & your strategy.
Bigger retracement (up to 4 daily ATR) = more money. Target will be hit 100%.
CHF/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...
Another harmonic pattern available at a very strong support area. Stochastic is also nicely oversold. Wait for confirmation before buying. If price leaves our box from the bottom im no longer interested in this setup.
Lets see what happens. :)