The pair’s movement has been guided by several patterns, the most eminent of which are a long-term ascending wedge (valid since mid-2016) and two shorter-term patterns—a channel up and descending wedge.
The Singapore Dollar bounced off the upper line of all three patterns on October 25 when it found the resistance of the weekly R1 at 83.74 and is now weakening...
The Singapore Dollar has formed a near-term ascending channel against the Yen. The pair has currently reached its 2017 high, thus it may edge lower in the upcoming days. This assumption may be supported by trend indicators that demonstrate the weakening of the up-trend. Nevertheless, there is still some slight upside potential that may push the Dollar towards the...
Alarm went off on this one.
- Price reacted above 81.50, 82.00.
- Price recently broke 81.00 support area.
- Now retesting as resistance, retesting fast MA.
Let's see if we can make some pips earlier in this week.This Gartley appears in this tf but if you see in the Daily chart this pair is in a support level , if the price hits target one ,then i close the half of the position, adjust the stop loss to break even and then we can wait without stress to see if price hits target 2 .
Following a five-week appreciation against the Japanese Yen that resulted in the formation of a rising wedge, the Singapore Dollar breached the given pattern to the downside. Consequently, the last wave downwards formed a short-term channel down in which the rate has been trading since. From theoretical point of view, the Singapore Dollar should make a retracement...
