USD/SGD 1H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
A rise to a four-month high of 1.2831 in the second part of January put heavy downside pressure on USD/SGD. The pair succumbed and embarked on a long-lasting depreciation that took place in the wide corridor shaped by two parallel lines.
USD/SGD has performed several attempts to break through the lower limit of the channel but all of them proved to be unsuccessful. Now the pair is on the verge of trying to penetrate the lower trend-line again but this time the pair may succeed given technical indicators that are sending ‘sell' signals in short and long terms.
© Dukascopy Bank SA
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