USD/SGD 1H Chart: Channel Down

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/SGD has just failed to surpass the March 25 peak and, as a result, the currency pair is now trending downwards. In the nearest future the rate is expected to confirm the red trend-line at 1.3690 and set off towards the lower edge of the channel at 1.3640. However, we should not expect USD/SGD to trade within the pattern for long, since the current sell-off from 1.3730 still appears to be a simple correction after a rally started at the very beginning of May. Additionally, the technical indicators do not favour prolonged depreciation of the Greenback. Meanwhile, the SWFX market participants are unable to reach a consensus for now, being that 48% of open positions are long and 52% are short.
© Dukascopy Bank SA
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Thu, 12 May 2016 13:58:13 GMT

AUD/SGD 1H Chart: Channel Down

Australian Dollar is set to diminish versus SGD, as this pair is trading within the channel down pattern and its upper boundary has just been reached at 1.01. The bullish cap is provided by the weekly pivot point at 1.0127, backed by the 200-hour SMA and daily R1 at 1.0110. They all are unlikely to allow for a growth of

Thu, 12 May 2016 06:59:42 GMT

AUD/CHF 1H Chart: Channel Down

The outlook on AUD/CHF is bearish, being that the pair has recently bounced off of the upper trend-line of the descending channel forming in the weekly chart. The near-term bias towards the Aussie is negative as well, since the price is currently trading between two parallel trend-lines that are sloped to the downside. However, soon there may begin a bullish

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