EUR/SGD 1H Chart: Short-term increase expected
The 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.
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.