The Greenback is simultaneously losing value in three descending channel patterns against the Singapore Dollar. However, the main attention should be fixated on the two junior patterns. Most recently the pair bounced off the combined resistance of the two channels, which indicates that a short term surge is about to occur. The target of the surge is most likely going to be the 61.80% Fibonacci retracement level of the 2017 high and 2016 low levels at the 1.3785 mark. If the lower trend line of the most junior pattern holds its ground by providing support, the currency pair is most likely going to reach the retracement level starting from Friday until Tuesday.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.3953/61 | 100 and 200-period SMA; weekly R2 | MACD (12; 26; 9) | Sell | Sell | Sell | ||
| R3 | 1.3931 | 50.00% Fibo | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 1.3893/95 | Weekly R1; monthly S1 | Stochastic (5; 3; 3) | Sell | Sell | Neutral | ||
| R1 | 1.3876/78 | 55-period SMA; two trend lines | ADX (14) | Neutral | Sell | Neutral | ||
| S1 | 1.3851 | Weekly PP | CCI (14) | Sell | Neutral | Buy | ||
| S2 | 1.3814 | Monthly S2 | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1.3801 | Trend line | Alligator (13; 8; 5) | Neutral | Sell | Sell | ||
| S4 | 1.3785/82 | 61.80% Fibo; weekly S1 | SAR (0.02; 0.2) | Buy | Sell | Sell | ||
| Aggregate | → | ↘ | → |