| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Buy | Sell | Sell |
| RSI (14) | Neutral | Neutral | Buy |
| Stochastic (5; 3) | Sell | Sell | Sell |
| Alligator (13; 8; 5) | Buy | Neutral | Sell |
| SAR (0.02; 0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇒ | ⇒ |
USD/SGD has formed two channels simultaneously. The exchange rate is currently trading in an up-wave in a senior channel down valid since early December, 2016. This particular movement has resulted in the formation of a short-term ascending channel.
Market sentiment is strongly bullish; this is likewise supported by up-trend signals. However, converging technical indicators suggest that a correction southwards should start in the nearest time.
The pair was located between the monthly PP and the weekly R1 on Wednesday morning. The rate could still go up to the former prior to falling down to support clusters set by the 61.9% Fibonacci retracement, the 55– and 100-hour SMAs circa 1.3510 and the 200-hour SMA and the monthly R1 at 1.3485. In case the latter is breached, traders could expect a further decline until the bottom boundary of the junior channel.