EUR/SGD 4H Chart: Double Top

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A formation of the 347-bar long double top pattern started in early November when the Euro touched a three-month low of 1.6563 against the Singapore Dollar. Since then a sharp advance has taken place, with the pair peaking at a two-year high of 1.7608 for two times.
Currently EUR/SGD represents a lucrative opportunity for traders as the pair broke through the pattern's neck-line at 1.7204, implying that the breakout may have occurred. If this idea proves to be true, the pair is likely to unremittingly follow southern direction in the foreseeable future.
© Dukascopy Bank SA
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