USD/SGD 1H Chart: Broadening Rising Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a consolidation around the major level at 1.26, USD/SGD started to form a 276-bar long broadening rising wedge pattern.
Recently the U.S. Dollar breached the upper trend-line of the pattern; however, it seems that it is returning to trade in to the boundaries of the pattern. The pair has proved that is not completely ready for a bullish break-out; although, as previously mentioned it is showing some additional bullishness already. The 4H and daily technical indicators also predict a upwards movement. Moreover, the traders' sentiment is strongly bullish, as 74.73% of the market participants expect that the pair will continue its appreciation.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.