USD/SGD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 1H 4H 1D
MACD (12; 26; 9) Sell Sell Sell
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Sell Sell Sell
Alligator (13; 8; 5) Sell Sell Neutral
SAR (0.02; 0.2) Sell Sell Buy
Aggregate

USD/SGD is trading in two formations simultaneously. Firstly, the US dollar has formed a falling wedge pattern which seems to have matured enough to expect a breakout in the nearest time. Secondly, the American currency is likewise trading in a descending channel. This demonstrates two opposing directions, as the former is a continuation pattern that should lead the pair for a surge, while the latter one favours downside momentum. Technical indicators are strongly bearish, suggesting that the rate may respect the channel more. In addition, the price has been rather sticky to the bottom wedge boundary in the last trading hours; thus, it may try to break it. The pair has no immediate support until the weekly S1 at 1.3822.

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