| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Sell |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Buy |
| Alligator (13; 8; 5) | Neutral | Sell | Sell |
| SAR (0.02; 0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇒ |
The EUR/SGD currency pair has breached the medium-term ascending channel and has reached the Fibonacci 0.00% retracement at 1.5522.
As apparent on the chart, the exchange rate has been trading in the descending channel since the middle of November. Given that the pair is being pressured by the 55-, 100– and 200-hour SMAs, the general direction is expected to remain south. It is likely that the pair targets the psychological level at 1.5400. Technical indicators for both short and long runs support bearish scenario.
It is the unlikely case that some bullish momentum prevails, the Euro should not exceed the upper channel line located in the 1.5650 area.