🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

USD/SGD Completes Rising Wedge Pattern

Published 11/26/2012, 05:33 AM
Updated 03/09/2019, 08:30 AM
USD/SGD
-

USD/SGD recently completed the Rising Wedge 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 result of the maximum Initial Trend (measured at the 10 bar level), above-average Uniformity (6 bars) and significant Clarity (8 bars).

The completion of this Rising Wedge continues the overriding downtrend that can be seen on the daily and the weekly USD/SGD charts. The high Initial Trend reflects the strength of the preceding daily downward price impulse. The pair is expected to fall further toward the Forecast Price 1.2173, as can also be seen from the PowerStats analysis shown below.
Dailyfx 1
As you can see from the following PowerStats chart for USD/SGD, the lower border the daily Expected Price Range (1.2190) stands very close to the Forecast Price calculated for the completion of the above Rising Wedge (1.2173) which heightens the chances that USD/SGD will approach 1.2173 tomorrow.
Dailyfx 2

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.