USD/SGD 4H Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/SGD seems to have finally ended the downward correction at the 50% retracement of the up-move that developed between Jul 2014 and Mar 2015. However, the emergence of the rising wedge indicates that the bullish momentum is probably running out of steam. If the rising trend-line at 1.3480 is broken, the outlook will be strongly negative, but there will be a chance for a rebound from 1.34, where the monthly PP merges with the Jun 3 low, and 200-period SMA. Additional supports are at 1.3251 and at 1.3151, represented by the monthly S1 and Apr low, respectively. As for the sentiment, the SWFX traders remain optimistic regarding the Dollar: 72% of positions are long.
© Dukascopy Bank SA
Back to articles

Actual Topics

Tue, 09 Jun 2015 12:22:04 GMT

GBP/USD 1H Chart: Channel Down

All last week's attempts of the Sterling to bounce back from the upper trend-line of pattern were negated by a support level of 1.52. As a result, the Cable was forced to return back towards the 1.53 mark. However, while trading in the upper part of the bearish channel, negative risks are rising. Strong downside momentum is likely to be

Tue, 09 Jun 2015 06:27:30 GMT

EUR/PLN 4H Chart: Channel Up

Being that EUR/PLN is trading next to the upper edge of the channel at the moment, there is a substantial risk of a sell-off. The bearish correction is likely to start soon after a test of 4.2060, and then the dip is expected to extend down to 4.12. However, the Euro is a risky sell, since the latest down-leg did

Subscribe to "Fundamental Analysis" feed

Subscribe
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request)
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Per scoprire di più sulla piattaforma di Dukascopy Bank per Forex/CFD, sul SWFX ed altre informazioni relative al trading,
la preghiamo di contattarci o richiedere di essere contattato (callback request).
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.