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EUR/SGD

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EURSGD trade ideas

EUR/SGD 1H Chart: Bearish momentumThe Singapore Dollar has been depreciating against the European common currency since the end of September. This movement has been bounded in an ascending channel. As apparent on the chart, the exchange rate is also trading in a long-term ascending channel. The pair has already reversed from the upper boundary of the senior trend at 1.6080 and currently is aiming for its lower line near 1.5720. Given this fact, a breakout from the junior channel might occur soon. It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the Fibonacci 50.00% retracement at 1.5982.
by UnknownUnicorn890690
EURSGD Daily timeframe analysis: 3 crucial info. to keep in mindOver 3 years of price action in the EURSGD is captured in this analysis from April 13, 2015 to present date. Commentary is provided based on the numbers indicated on the chart. (1) Current, active resistance in the EURSGD with the most recent test occurring on February 5, 2018. The bearish trendline further extrapolated is expected to offer future resistance, while a break out above the trendline implies more bullish action. (2) This is established by connecting the price low at ~1.47820 and 1.56136. The current swing upwards in price 1.56136 also makes it important to focus on the bullish channel as shown in blue lines. The dotted blue line provides another possibility of a smaller bullish channel that can serve as a termination of price action prior to a downturn. (3) Main bullish trendline in the EURSGD established since April 17, 2017. A break in the lower boundary of the bullish channel, and also below 1.56136 could see the EURSGD return to the vicinity of the main trendline.
by Coin_Analyst
EUR/SGD 1H Chart: Short-term increase expectedThe EUR/SGD exchange rate has been trading in an ascending channel for the last two months. This pattern was formed when the pair reversed from the senior ascending channel at 1.5627. Given that technical indicators still remain bullish in the short term, it is likely that the Euro goes upper the following days. A possible target is the upper boundary of the senior channel. It is the unlikely case that some bearish pressure still prevails in the market, the Euro should not exceed the monthly S1 at 1.5835.
by UnknownUnicorn890690