Monthly Chart
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The pair has remained steady inside of the Andrew's Pitchfork, trading just above the bottom line for the last four days, after diving from consistent median-line tests. We are looking for tests of 1.5303, the 200-hour SMA with some intermediate hitches before that. In case the channel up motion is maintained, 1.5319, the upper trend-line of the junior channel down will be attempted and broken, causing a bullish outburst towards 1.5365.
Daily Chart
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Previous highs will remind of themselves at 1.5333, 1.5361 and 1.5396 on the way. Trading below a green Ichimoku cloud, the movements have produced a red one for the future, setting 1.5283 as the level to watch over the next session. With Tenkan sen lying almost on top of Kijun sen, the lines have somehow managed to maintain a bearish position, signalling that the longer-term rally could be delayed.
Hourly Chart
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Monday was a busy day for the Euro, opening up with the Italian Trade Balance, Final yearly CPI and Final Core yearly CPI, and finishing off with Draghis and German Buba President Weidmann's speeches at 17:35 GMT. While news in the morning session failed to shake the markets, afternoon's schedule as well as Thursday's ECB releases are bound to instill some uncertainty in EUR/SGD movements.
Aggregate Technical Indicators
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