AUD/SGD 30M Chart: Channel Up

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
AUD/SGD showed a rather ranging market on the 30 minute chart, but managed to show signs of an emerging uptrend bound by an ascending channel which is yet to show weakness. January 2 showed a lot of volatility on the upside, but the market has now re-entered regular fluctuations, and appears to now be targeting the upper boundary of the channel, after a successful attack on the upper Bollinger Band of 1.0472 is launched. SMAs, however, show a different scenario in a cluster where short-term ones cross long-term ones to the downside, giving out SELL signals. While it might be the case that the lagging nature of the indicator has not adjusted to the newly formed uptrend yet, we will watch the bottom boundary at 1.0456 closely.
© Dukascopy Bank SA

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