USD/SGD continues to advance inside the high Quality Triangle chart pattern identified by Autochartist on the daily charts. Autochartist rates the overall Quality of this chart pattern at the 8 bar level as a consequence of the maximum Initial Trend (measured at the 10 bar level), significant Uniformity (7 bars) and higher Clarity (8 bars). This Triangle continues the short-term uptrend from the major support level 1.2000, which had reversed the strong preceding downtrend in August of 2011. More specifically, this Triangle follows the proceeding strong upward impulse (whose strength is reflected by the high Initial Trend value) which started from the 61,8% Fibonacci Retracement of the previous sharp daily upward price thrust from the aforementioned level of support 1.2000 (as is shown on the second chart below). The pair is expected to rise further in the nearest time.
The daily USD/SGD chart below highlights the technical price levels affecting the recent movement of this currency pair:
USD/SGD" title="USD/SGD" width="600" height="603">
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Daily Forex Update: USD/SGD
Published 01/10/2012, 06:47 AM
Updated 03/09/2019, 08:30 AM
Daily Forex Update: USD/SGD
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