EURSGDEURSGD - Break out...Coming soon!
EURSGD - Technically it's brewing for break out to either direction. We are currently within the ranges of Highs: 1.44965 Lows: 1.41187
If we are to break the lows, expect the recently low areas of 1.37625 to be target areas.
If we are to break the hight, expect the the two key resistance areas to be tested and to be target areas 1. 1.47285 & 2. 1.49660
I have even enjoyed trading the USDSGD - very clean set ups!
Have a great week ahead,
Trade Journal
Eursgdideas
EURSGD approaching support, potential for a bounce!
EURSGD is expected to drop to 1st support at 1.50703 where it could potentially react off and up to 1st resistance at 1.51075.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
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.
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EURSGD approaching support, potential for a bounce!
EURSGD is expected to drop to 1st support at 10.68260 where it could potentially react off and up to 1st resistance at 10.74490.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EURSGD approaching support, potential for a bounce!
EURSGD is expected to drop to 1st support at 1.53585 where it could potentially react off and up to 1st resistance at 1.53962.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
EUR/SGD - 200 Pips OpportunityEUR/SGD is currently in a short term consolidation zone. This is a continuation pattern.
As EUR/SGD breaks its current support, it will continue its bearish trend.
However, if it fails to break its support and shows strength to retaliate, the move is cancelled until further confirmation.
EUR/SGD heads to south at 1.5960EUR/SGD 4H Chart: Channel Down
The common European currency is losing value against the Singapore Dollar in one month long descending channel whose formation represents a rebound of the pair from the upper trend-line of a preceding ascending channel.
The short-term target for rate is expected to be an intersection of the monthly S1 at 1.5959 and the bottom edge of the pattern. Due to the fact that the channel consists of four confirmation points, the pair theoretically could break to the bottom.
However, a rebound most likely is going to follow. But even in that case the surge might be hampered by the slipping 55-, 100- and 200-hour moving averages.
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 .