EUR/SGD 4H Chart: Channel Down

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
The present currency cross has been in a decline since the end of July, as it managed to cover 246 bars since that time. During last couple of hours only, the single currency lost around 90 points and is likely to continue hovering to the south. At the moment we do not see any major barriers for the pair to reach the lower trend-line at 1.5997, which is also reinforced by major level at 1.60. SWFX traders support such a short-term move in 52% of all the cases, while pair's future will depend on its ability to manage situation around the mentioned strong support line. In case the pair holds its positions, we can see it rising back, up to the weekly pivot point and major level at 1.62.
© Dukascopy Bank SA
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