Due to rebounding against a Fibonacci retracement level the common European currency has surged against the Singapore Dollar and formed an ascending channel pattern. The currency pair is set to surge up to the 50.00% Fibonacci retracement level, which is located at the 1.5682 level. In accordance with the pattern, it is most likely going to occur by the end of June. However, the way up to the retracement is already free from any pattern resistance. The relevant Fibonacci retracement levels for this pair are measured by connecting the 2016 and 2017 low levels with the 2015 high level.
| Level | Rationale | Indicator | 4H | 1D | 1W | |||
| R4 | 1.5788 | Weekly R3 | MACD (12; 26; 9) | Buy | Buy | Buy | ||
| R3 | 1.5709/25 | Weekly R2; trend line; monthly R1 | RSI (14) | Neutral | Neutral | Neutral | ||
| R2 | 1.5682 | 50.00% Fibo | Stochastic (5; 3; 3) | Sell | Sell | Sell | ||
| R1 | 1.5585 | Weekly R1 | ADX (14) | Neutral | Buy | Neutral | ||
| S1 | 1.5522/06 | 55-period SMA; weekly PP | CCI (14) | Sell | Neutral | Neutral | ||
| S2 | 1.5480 | 38.20% Fibo | AROON (14) | Buy | Buy | Buy | ||
| S3 | 1.5466/56 | 100-period SMA; monthly PP; trend line | Alligator (13; 8; 5) | Buy | Buy | Buy | ||
| S4 | 1.5382 | Weekly S1 | SAR (0.02; 0.2) | Buy | Buy | Buy | ||
| Aggregate | ↗ | ↗ | ↗ |