continues to fall inside the extended Descending Triangle chart pattern identified by Autochartist on the 4-hour charts. The length of this chart pattern is equal to 129 candles. Autochartist rates the overall Quality of this chart pattern at the 6 bar level as a result of the strong Initial Trend (rated at the 8 bar level), above-average Uniformity (6 bars) and lower Clarity (4 bars). This chart pattern continues the prevailing downtrend visible on the daily, weekly and the monthly USD/SGD charts. The pair is expected to fall further toward the lower support trendline of this Descending Triangle, which is also indicated by the PowerStats analysis shown below.
As can be seen from the following PowerStats chart, the top of the daily Expected Price Range (EPR) for USD/SGD for tomorrow (1.2597) stands below the upper resistance trendline of the above Descending Triangle, while the lower boundary of the EPR (1.2454) coincides with the lower support trendline of the above chart pattern. Both of these facts point toward the higher likelihood that this currency pair will fall further tomorrow.
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Daily Forex Update: USD/SGD
Published 03/09/2012, 06:01 AM
Updated 03/09/2019, 08:30 AM
Daily Forex Update: USD/SGD
USD/SGD
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