EUR/SGD 1H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A dive to a one-week low on November 19 was a starting point of a sharp appreciation of the Euro against the Singapore's Dollar that has lasted for 137 hours already. An advance was performed within a narrow range shaped by two gradually converging lines; in other words, the pair formed a rising wedge pattern that pushed a one-month high back to the fore. At the moment of writing, the pattern's boundaries were not far away from each other, meaning that the convergence point is looming thus the breakout also may appear in the hours to come.
© Dukascopy Bank SA
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Thu, 28 Nov 2013 12:35:33 GMT

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