USD/SGD 1H Chart: Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A 247-bar long triangle shaped by USD/SGD in the last days of February and first weeks of March is on the verge of being broken through. The currency couple approached the upper limit several hours earlier and given bullishness on the market as well as proximity of the apex that is likely to be reached on March 13, we may witness the breakout followed by an accelerating advance before long. Technical indicators also bolster the bullish scenario, sending 'sell' signals for short and medium terms.
© Dukascopy Bank SA
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