CHFSGD closes within prior day's range

Swiss Franc/Singapore Dollar (CHFSGD) Technical Analysis Report for May 29, 2020 | by Techniquant Editorial Team


CHFSGD closes within previous day's range


CHFSGD ended the month 0.56% higher at 1.4693 after losing 11 pips (-0.07%) today on high volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily Candlestick Chart (CHFSGD as at May 29, 2020):

Daily technical analysis candlestick chart for Swiss Franc/Singapore Dollar (CHFSGD) as at May 29, 2020

Friday's trading range has been 79 pips (0.54%), that's slightly below the last trading month's daily average range of 85 pips. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for CHFSGD.

One bearish candlestick pattern matches today's price action, the Bearish Spinning Top. The last time a Bearish Spinning Top showed up on Monday, CHFSGD actually gained 0.04% on the following trading day.

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish.

As prices are trading close to May's high at 1.4760, upside momentum might speed up should CHF/SGD mark new highs for the month.

Market Conditions for CHFSGD as at May 29, 2020

Loading Market Conditions for CHFSGD (Swiss Franc/Singapore Dollar)...
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