USD/SGD continues to decline after the recent completion of the high Quality Descending Triangle chart pattern identified on the 4-hour charts. The overall Quality of this chart pattern is rated at the 8 bar level as a result of the strong Initial Trend (7 bars), maximum Uniformity (10 bars) and substantial Clarity (8 bars). Maximum Uniformity of this chart pattern highlights the even distribution of the connecting points of the upper and the lower trendlines of this Descending Triangle. The completion of this chart pattern continues the overriding downtrend visible on the daily and the weekly USD/SGD charts. The pair is expected to fall further toward the Forecast Price 1.2554.
As can be seen from the PowerStats chart below, the lower boundary of the daily Expected Price Range calculated for USD/SGD (1.2535) stands below the Forecast Price calculated for the completion of the above Descending Triangle (1.2554) – which heightens the likelihood that USD/SGD will continue to fall toward this Forecast Price in the nearest time.