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CHF/SGD about to test some strong support

AdamFx42 Posted 13 Oct. as Analysis on CHF/SGD, Target: 1.3235, Date: 1 von December, 12:00 GMT  in #Technical analysis #Fibonacci Retracement #CHF/SGD #Closing Wedge Pattern #Confluence Support
Chf/Sgd is on its way down to the lower border of a closing bullish wedge pattern
as we can see on the monthly chart, first:
Chf/Sgd monthly chart
On the weekly chart I have put in the fibonacci retracement levels of the last move up
and we can see that the 76.4% retracement level has held the price from going lower
and we see that the price has bounced;
this level should now be retested, because the price action is bearish at the moment
Chf/Sgd weekly chart
On …
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3 Kommentar
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AdamFx42 19 Oct.

Strong support below has held the price, and the pair did move up from this level - 76.4% fibonacci retracement level on the monthly/weekly chart held the price above
The pair has now tested the 61.8% level, and has bounced back as I predicted it would,
so, another test of the lows should follow

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AdamFx42 30 Oct.

price has been briefly above 61.8% fibonacci retracement briefly
but is below again and should move to the downside now

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AdamFx42 5 Nov.

Pair has still to test support line - monthly/weekly trendline

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CHF/JPY held up by closing wedge pattern

AdamFx42 Posted 13 Oct. as Analysis on CHF/JPY, Target: 114.4893, Date: 1 von December, 12:00 GMT  in #Technical analysis #Breakout #CHF/JPY #Fibonacci Retracement #Closing Wedge Pattern #Flag Pattern
Chf/Jpy has the potential to go up higher again
On the weekly chart we can see that the price is just below 38.2% fibonacci retracement level
for the third time - failing to break below each time
One of the reasons for this is the (still) bullish nature of the pair,
another reason is the forming of a bullish closing wedge pattern with a lower border just below the fib level
Chf/Jpy weekly chart
On the daily chart I have drawn the price action that I think will occur if the lower border
of the ab…
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2 Kommentar
AdamFx42 avatar
AdamFx42 19 Oct.

Lower border of the closing wedge pattern has been tested, but price has held above,
a further upmove should follow along with strengthening Usd/Jpy

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AdamFx42 30 Oct.

Upmove has come and higher border of the pattern should be tested too
price on target now

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