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Eursgddaily

EURSGD approaching support, potential for a bounce! EURSGD is expected to drop to 1st support at 1.51545 where it could potentially react off and up to 1st resistance at 1.51847. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
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by Pepperstone
EUR/SGD 1H Chart: PennantEUR/SGD 1H Chart: Pennant The common European currency is advancing against the Singapore Dollar in a little pennant pattern that formed in the result of announcement of information on the US CPI last Friday. Since the pair is moving in a continuation pattern, then breakout is expected to occur in the northern direction. The length of the subsequent rise might amount to 50-60 basis points, which coincides with the updated weekly R1 located at the 1.6155 level. This scenario is additionally supported by the pressure exercised by the 20- and 200-hour SMAs as well as the 55- and 100-hour SMAs plus the weekly PP at 1.6052. Moreover, 71% of traders hold bullish positions on the given currency pair, while 65% of pending orders in 100-pips range are set to buy .
by UnknownUnicorn890690