EUR/SGD 1D Chart: Rising Wedge

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A year ago the currency pair breached the 200-day SMA to the upside and commenced a recovery that still remains intact. However, during this time the pace of Euro's appreciation has notably slowed down, leading to formation of a rising wedge, a pattern that implies an increased possibility of a reversal.
Still, before EUR/SGD attempts to test the lower boundary of the figure—the key support, it has to cover more than six figures. But, given that the price is trading near the tough supply area, formed by the weekly PP and the rising resistance line, there is a good chance of a strong sell-off, despite the daily and monthly indicators largely giving ‘buy' signals.

© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 23 Dec 2013 11:54:17 GMT

USD/ZAR 4H Chart: Rising Wedge

The rising wedge pattern on the four-hour chart of USD/ZAR remains topical, especially considering that the latest rebound from the lower up-trend support line seems to have failed to extend to the upper boundary of the figure. Accordingly, the chance of a break-out to the downside is now particularly elevated, regardless of the 4H technical indicators that are mostly bullish

Mon, 23 Dec 2013 08:08:37 GMT

USD/JPY 4H Chart: Rising Wedge

Since mid-October, USD/JPY has been following the uptrend, forming a rising wedge pattern on November 19. Almost ten hours ago, the pair breached the pattern's resistance and touched the highest level since at least 2009 that made us believe that the sharp rally may lie ahead; however, these expectations did not come true as the pair changed direction shortly after

Subscribe to "Fundamental Analysis" feed

Subscribe
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
For further information regarding potential cooperation,
please call us or make callback request.
Aby dowiedzieć się więcej o Opcjach Binarnych w Banku Dukascopy / platformach handlowych Forex, SWFX, oraz innych,
zadzwoń do nas lub pozostaw prośbę o oddzwonienie.
Aby dowiedzieć się więcej o handlu Forex/CFD na platformie Dukascopy Banku, rynku SWFX oraz innych rzeczy związanych z handlem,
zadzwoń do nas lub poproś o oddzwonienie.
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.