| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Sell | Sell | Buy |
| RSI(14) | Neutral | Buy | Neutral |
| Stochastic(5;3;3) | Neutral | Buy | Buy |
| Alligator(13;8;5) | Sell | Sell | Neutral |
| SAR(0.02;0.2) | Sell | Sell | Sell |
| Aggregate | ⇘ | ⇒ | ⇒ |
The European Common Currency has been depreciating gradually against the Singapore Dollar since the beginning of June when the exchange rate reversed south from the upper boundary of the long-term descending channel at 1.5480.
Given, that the currency pair is pressured by the 55-, 100– and 200-hour moving averages, it is likely, that some downside potential could prevail in the market. Important support level to look out for is the monthly S1 at the 1.5299 mark.
However, note, that the rate is supported by the weekly S2 at 1.5330. If the given support level holds, the pair could reverse north and re-test the upper channel line. It is unlikely, that a breakout north could occur due to the resistance level formed by the Fibonacci 23.605 retracement at 1.5483.