USD/SGD 4H Chart: Channel Up

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
While an ascending channel has led the movements of USD/SGD for about two and a half months, a double top at 1.3959 could serve as a trend-changer consistent with a gloomy Dollar outlook caused by a Republican victory. If the pair continues to consolidate even respecting the current ceiling, it could still stay inside of the channel lines and post gains after 1.3832 – the bottom trend-line of the channel – is reached. Contained by 1.3940 and 1.3.867 from above and below, respectively, the pair has potential to grab onto some decent volatility during the flat motion, causing 1.3959 and 1.3838 to potentially come into action.
© Dukascopy Bank SA
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