| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Sell | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Neutral | Buy |
| Alligator(13;8;5) | Buy | Sell | Buy |
| SAR(0.02;0.2) | Sell | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇗ |
Since the middle of December, the EUR/SGD currency pair has been trading within a descending channel.
From a theoretical point of view, it is likely that the exchange rate could continue to decline within the predetermined pattern in the medium term. In this case the rate could decline below 1.6000 by the end of February.
In the meantime, note that the currency pair is pressured by the 55-, 100– and 200-preiod moving averages in the 1.6105/1.6190 range. Thus, a breakout south could occur, and the pair could decline to the Fibo 61.80% at 1.5861.