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Home Contributors Technical Analysis EUR/SGD 4H Chart: Two Scenarios Likely

EUR/SGD 4H Chart: Two Scenarios Likely

The EUR/SGD exchange rate has revealed a long-term descending channel.

From a theoretical perspective, it is likely that the currency pair could continue to decline within the predetermined channel in the medium term. The pair could target the Fibo 50.00% at 1.5678.

Meanwhile, the exchange rate could gain support from the Fibo 61.80% at 1.5861. Therefore, the rate could breach the predetermined channel north and target the psychological level at 1.6300.

Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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