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Eur-sgd

EUR/SGD 4H Chart: Medium-term pattern to prevailThe common European currency has weakened against the Singapore Dollar since early February when the pair reversed from the senior channel at 1.6450. This mark is likewise the highest price level since mid-2014. The strong bearish sentiment which prevailed during the last week of April forced a breakout from the aforementioned long-term pattern. The rate has since retraced from its bottom line, the 55-period SMA and the weekly PP at 1.5975. Nevertheless, technical indicators remain in favour of a surge within the following week in line with the medium-term channel. In case this scenario is to occur, the Euro should target the 1.61 territory which is restricted by the monthly PP, the 100-hour SMA and the upper channel line. In case some downside momentum still prevails in the market within the following days, a fall is unlikely to surpass a support cluster located near 1.5820.
Long
by UnknownUnicorn890690
EUR/SGD 4H Chart: Bearish in medium termAfter reaching a three-year high of 1.6427 early in February, the common European currency began trading in a new wave down. This movement has been bound in a descending channel but with a diminishing trading range. Technical indicators demonstrate that the pair is likely to edge higher and approach the prevailing junior channel down during the following week. Some hindrance could be encountered near the combined resistance of the 55-, 100– and 200-period SMAs and the monthly PP circa 1.62. By and large, the rate is expected to maintain its current trend south. A possible target for the following month is the 1.5950/1.5900 territory where the bottom boundary of another channel is located.
Short
by UnknownUnicorn890690
Eur Sgd stay or go Price broke above this s/r zone to the upside and already retested it from above as you can see. Iam looking for a short if price can break the zone and gives me a close below . My target for the short trade would be the rising trendline . If we arrive at the TL i wil look for: A) break and further downside move B) rejection and and a move to the s/r zone to the upside Long scenario The s/r zone gives support to the price and pushes it back up again. I would like to see abreak of the small resistance here before thinking of a long trade in daily chart.
by Trueman23
EUR/SGD 1H Chart: Senior channel unlikely to holdThe Euro has been appreciating against the Singapore Dollar in a two-month ascending channel. On February 2, the pair reversed from the monthly R1 at 1.6443— which is also a 2016/2018 high— and began edging lower in a new short-term wave down. As apparent on the chart, the pair bounced off the weekly PP today and fell sharply past the 100– and 200-hour SMAs near 1.6322. If the bearish sentiment continues to dominate the market within the following hours, traders could see a breakout south from the senior channel and a subsequent price decline down to the monthly PP at 1.6174. On the other hand, the Euro might try to regain some lost positions after today’s fall and thus find support at the weekly S1 and the senior channel circa 1.6250. Upside potential in this scenario could be the 1.6443 mark. The rate’s subsequent movement should nevertheless be south.
by UnknownUnicorn890690
EUR/SGD 1H Chart: Euro appreciates in short termThe common European currency is trading in a channel down against the Singapore Dollar. The upper boundary of this pattern was tested mid-November after which the Euro initiated a new wave down. This gradual decrease in value, however, was disrupted near the 1.5870 mark when the Euro reversed to the upside once again. Along the way, the pair managed to surpass the 55-, 100– and 200-hour SMAs and the weekly PP. Technical indicators suggest that this could be just a minor correction against the general down-trend and the pair should eventually resume its movement south. This assumption is in line with the senior pattern. A possible downside target could be the monthly S1 near the 1.5751 mark. On the other hand, in case of a continuous movement south, the Euro might halt near the monthly R1 at 1.6035.
by UnknownUnicorn890690
EUR/SGD 1H Chart: Channel boundary holdsThe common European currency has been trading in a downward-sloping channel against the Singapore Dollar for the last two months. The second bottom confirmation was provided late on Friday when the rate bounced off the 1.5828 mark. The massive plunge that began on October 26 sent technical indicators in the strongly bearish and oversold territory. These signals are gradually recovering, thus pointing to a possible upward momentum—a move that would once again demonstrate the strength of the descending channel. However, the Euro faces a significant resistance area set by the weekly PP and R1, the monthly S1 and the 55-, 100– and 200-hour SMAs in the 1.5913/1.6022 territory. It is likely that the rate hinders near this area or even trades lower prior to breaching it during the second half of this trading week.
Long
by UnknownUnicorn890690
EUR/SGD 1H Chart: Soon breakout from channelThe Euro against the Singaporean Dollar has been trading in a channel down for the past seven weeks. The last up-wave was initiated late in September when the rate bounced off the monthly S1 at 1.5940. The subsequent gradual appreciation resulted in the formation of a channel up. Given the characteristics of the senior pattern, it is likely that the Euro tries to push for its bottom boundary in the 1.5800/1.5850 area in the medium term. However, technical indicators suggest that there is still some upside potential that could be realised either today or next week. By and large, the daily time-frame demonstrates that this movement downwards might be just a correction towards the general up-trend. Thus, medium-term appreciation could be expected, especially if the rate fails to breach the weekly PP and the 200-hour SMA at 1.6001.
Long
by UnknownUnicorn890690