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CHF/SGD Summer Consolidation

Daytrader21 Posted 15 July as Analysis on CHF/SGD, Target: 1.4572, Date: 1 von September, 12:00 GMT  in #Technical analysis #Consolidation #Psychological Number #CHF/SGD #Chfsgd #Fibonaci Retracement
We can see that for the most part cross pairs like CHF/SGD have the tendencies to move in consolidation box, which i call range box effect. Right now we're moving inside one of those range zone between 1.4000 round number and psychological number which is also the bottom of the current box and 1.4600 resistance and top of the box.
Major Levels to watch:
  • 1.4000 Big round number and psychological number and also support level.
…
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Daytrader21 1 Aug.

Update 3: The market is still trying to push and break below key support level 1.4200 but without much success so far. This is positive sign for the bulls and we should expect in coming week momentum to start pushing to the upside. First level of resistance is at 1.4300 a break and close above this level means more upside ahead.

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Daytrader21 9 Aug.

Update 4: This pair is still pressing the psychological number 1.4000 but so far it has failed to break below it and we should soon expect a reaction higher. Once we'll break higher it will do so in an explosive way because of the price structure of this down leg. In this regard I see the first level of resistance at 1.4350

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Daytrader21 15 Aug.

Update 5: AS expected after multiple and failed attempts to break the big round number 1.4000, last week we rallied 400 pips and close below first level of resistance at 1.4350. For coming week we can see a retest of that level and now to act as new support level, however for further upside movement we'll need a break and a close above the big figure 1.4500

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Daytrader21 28 Aug.

Update 6: Once we broke the key resistance level at 1.5600 level the market has run more than anticipating, however we're back inside the range confirming this was a false move. Next week the key levels to watch are 1.5400 support level and 1.5600 resistance level.

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Daytrader21 31 Aug.

Update 7: In the short term we have found resistance at 1.4730, an intermediate swing low. From here we should expect the market to continue selling of in the coming 1-2 days and we should expect to find support just above the big round number 1.4500 which should provide support. With my forecast target at 1.4572 we can expect the market to come closer to that figure.

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CHF/SGD Summer Consolidation

Daytrader21 Posted 31 May as Analysis on CHF/SGD, Target: 1.4582, Date: 1 von July, 12:00 GMT  in #Technical analysis #Consolidation #Fibonacci Retracement #Psychological Number #CHF/SGD #Chfsgd
We can see that for the most part cross pairs like CHF/SGD have the tendencies to move in consolidation box, which i call range box effect. Right now we're moving inside one of those range zone between 1.4000 round number and psychological number which is also the bottom of the current box and 1.4600 resistance and top of the box.
Major Levels to watch:
  • 1.4000 Big round number and psychological number and also support level.
…
Die komplette Geschichte lesen
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5 Kommentar
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Daytrader21 5 June

Update 1: We came very close to trigger the stops above the 1.4500 big round number, but we where not able to move above it and instead we now have a multiple touch of that level. Support for next week stands at 1.4250 and resistance at 1.4500

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Daytrader21 14 June

Update 2: As per Figure 1 we did tried to break above previous minor swing high at 1.4640 but couldn't make it above it so instead we make a double top.I still think there is a need for a break of that level, however we should still remain in consolidation with key support being 1.4100

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Daytrader21 19 June

Update 3: Nothing much happened since my last update we have continued to move inside a very narrow range between 1.4600 resistance level and 1.4350 support level. For next week we should expect the market to be trading inside this two limits.

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Daytrader21 26 June

Update 4: Right now we have retested the support level of current range box and we already saw a bounce. The 1.4400 level is the middle of the box and we should see price either going up to retest the resistance level at 1.4600 which is the highest probability.

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Daytrader21 29 June

Update 5: As expected the momentum pushed higher and we broke through intermediate resistance level at 1.4450 and also we're about to have a daily close above the big round number 1.4500 which will suggest further upside to be seen in the next 24 hours.

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