USD/SGD 4H Chart: Channel Down

Source: Dukascopy Bank SA
© Dukascopy Bank SA
After a rebound from the ten-week low of 1.3462, the US Dollar began appreciating against its Singaporean peer, while bulls experienced little problems in sending the pair considerably to the upside. As a result of that, the pair neared the upper boundary of the channel down pattern on Friday, April 10. However, views on the pair's future are diverging right now. From one side, 70% of SWFX traders are bullish and they are supported by weekly technical indicators. On the other hand, daily studies are bearish and 4H ones give neutral signals. Therefore, a bounce back may takes place in the nearest future, which will be followed by a renewal of the Buck's bullish tendency in the long-term.
© Dukascopy Bank SA
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