EUR/SGD 1H Chart: Falling wedge in sight

Note: This section contains information in English only.
Source: Dukascopy Bank SA
Indicator4H1D1W
MACD(12;26;9)BuySellSell
RSI(14)SellNeutralBuy
Stochastic(5;3;3)NeutralNeutralBuy
Alligator(13;8;5)BuySellSell
SAR(0.02;0.2)BuySellSell
Aggregate

The EUR/SGD currency pair continued to trade downwards within the falling wedge pattern.  

Currently, the pair is testing the upper pattern boundary at the 1.5327 mark. From a theoretical perspective, it is expected, that that a reversal south occurs in the nearest future, and the exchange rate continues to trade within the given pattern. Important level to look out for is the Fibonacci 0.00% retracement at 1.5183. 

If the given pattern does not hold, it is likely that a breakout north occurs soon. A possible upside target is the psychological level at 1.5400.

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