| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Neutral |
| Alligator(13;8;5) | Neutral | Buy | Buy |
| SAR(0.02;0.2) | Sell | Sell | Buy |
| Aggregate | ⇒ | ⇒ | ⇗ |
The EUR/SGD exchange rate has been trading upwards within a rising wedge pattern since the beginning of May. As apparent on the chart, the rate pierced the lower pattern line.
It is likely that some downside potential could prevail in the market, as the currency pair is pressured by the 55-, 100– and 200-hour moving averages. In this case the pair could decline to the Fibo 23.60% at 1.5268.
Meanwhile, note that the exchange rate could gain support from the Fibo 50.00% at 1.5678. If the given level holds, it is likely that a reversal north could occur, and the rate could exceed the Fibo 61.80% at 1.5861.