USD/SGD 4H Chart: Broadening Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
After the pair consolidated around 1.27 mark during October, it has regained its bullishness. Moreover, the pair has been pushed into a broadening rising wedge pattern.
The pair has reached the highest trading levels since the beginning of 2011. According to technical indicators, the pair has reached its top or at least is near it. At the same time a drop is not expected, as consolidation or a correction towards the 1.30 mark is the more likely scenario. Nevertheless, an overwhelming majority of the SWFX market participants are expecting the US Dollar to continue outperforming its Singapore's peer.
© Dukascopy Bank SA
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