| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Sell |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Neutral |
| Alligator(13;8;5) | Sell | Sell | Sell |
| SAR(0.02;0.2) | Buy | Buy | Sell |
| Aggregate | ⇒ | ⇒ | ⇘ |
The Euro has been depreciating against the Singapore Dollar since the middle of October. This movement has been bounded within the medium-term descending channel.
As apparent on the chart, the EUR/SGD currency pair has already reversed south from the upper channel line at 1.5100. From a theoretical point of view, it is likely that some downside potential could prevail in the market, and the pair could reach the lower channel line located in the 1.4880/1.4920 area.
If the given channel holds, it is likely that the Euro could continue to depreciate against the Greenback in the medium term. However, note that the exchange rate could gain support from the monthly S2 and S3, located at 1.4953 and 1.4851 respectively.