EUR/SGD 1H Chart: Ascending Triangle

Source: Dukascopy Bank SA
© Dukascopy Bank SA
After EUR/SGD hit a two-month low of 1.7099 early February, it got an impetus for a climb and in the first days of spring it started to shape an ascending triangle pattern of high quality and magnitude that now is 166-bar long.
However, the pair is unlikely to add some bars to the pattern since it rose above the pattern's resistance at 1.7642 one hour earlier. Taking into account that the breakout took place close to the apex, it is likely to be real and may push the pair above a three-year high, near which it is trading at the moment.
© Dukascopy Bank SA
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