EUR/SGD 4H Chart: Two scenarios likely

Note: This section contains information in English only.
Source: Dukascopy Bank SA
4H1D1W
MACD(12;26;9)SellSellBuy
RSI(14)NeutralNeutralNeutral
Stochastic(5;3;3)NeutralNeutralNeutral
Alligator(13;8;5)SellSellBuy
SAR(0.02;0.2)SellSellSell
Aggregate⇘⇘⇒

[ANNOUNCE] The EUR/SGD exchange rate has revealed a long-term descending channel. [/ANNOUNCE] 

From a theoretical perspective, it is likely that the currency pair could continue to decline within the predetermined channel in the medium term. The pair could target the Fibo 50.00% at 1.5678. 

Meanwhile, the exchange rate could gain support from the Fibo 61.80% at 1.5861. Therefore, the rate could breach the predetermined channel north and target the psychological level at 1.6300.

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