Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Buy | Buy |
RSI (14) | Neutral | Neutral | Sell |
Stochastic (5; 3) | Buy | Sell | Sell |
Alligator (13; 8; 5) | Buy | Buy | Buy |
SAR (0.02; 0.2) | Buy | Buy | Buy |
Aggregate | ⇗ | ⇒ | ⇘ |
The common European currency is advancing against the Singapore Dollar in a little pennant pattern that formed in the result of announcement of information on the US CPI last Friday. Since the pair is moving in a continuation pattern, then breakout is expected to occur in the northern direction. The length of the subsequent rise might amount to 50-60 basis points, which coincides with the updated weekly R1 located at the 1.6155 level. This scenario is additionally supported by the pressure exercised by the 20- and 200-hour SMAs as well as the 55- and 100-hour SMAs plus the weekly PP at 1.6052. Moreover, 71% of traders hold bullish positions on the given currency pair, while 65% of pending orders in 100-pips range are set to buy.