USD/SGD 4H Chart: Channel Up

Source: Dukascopy Bank SA
© Dukascopy Bank SA
A simple channel up pattern was formed by USD/SGD on the May 8, and during the last two months we were observing the appreciation of the greenback against the Singapore currency. As the number of long and short positions is almost equal, the pair is likely to follow the trend. Moreover, aggregate technical indicators on 1D and 1W charts are suggesting the continuation of the uptrend as well. There fore, the re-test of the pattern's resistance line can be expected.
© Dukascopy Bank SA
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