Indicator | 4H | 1D | 1W |
MACD (12; 26; 9) | Buy | Sell | Buy |
RSI (14) | Neutral | Neutral | Neutral |
Stochastic (5; 3) | Neutral | Neutral | Neutral |
Alligator (13; 8; 5) | Buy | Sell | Buy |
SAR (0.02; 0.2) | Sell | Buy | Sell |
Aggregate | ⇒ | ⇒ | ⇗ |
The USD/SGD currency pair reached the lower boundary of the medium-term ascending channel and reversed north at the beginning of December.
Given that the exchange rate is being supported by the 55-, 100– and 200-hour SMAs, it is expected that the bullish momentum continues to prevail. It is likely that the pair targets the Fibonacci 50.00% retracement at 1.3803. Technical indicators for the 1W time frame support bullish scenario.
However, this advance might not be immediate and the pair might re-test the lower channel line 1.3650.