USD/SGD 1H Chart: Rate narrows trading range

OANDA:USDSGD   美元 / 新加坡幣
NZD/JPY has been confined by a long-term channel against since November, 2016. Its trading range, however, has diminished substantially during the previous month. As a result, the pair has formed a wedge-like formation (dashed lines) which was drawn from two opposing trend-lines. Its bottom line was tested last week when the Kiwi reversed from the 1.3080 mark. It has since moved higher in a narrow channel up.

Technical indicators suggest that this pattern should be breached today, thus allowing the rate to approach the combined support of the 200– and 100-hour SMAs, the 23.60% Fibo retracement and the weekly PP in the 1.3180/67 territory. Given the strength of this cluster, the Kiwi could reverse near this territory and later test the upper trend-line and the 38.20% Fibo near 1.3280. Subsequently, the rate is expected to form a new wave down just to continue trading in line with the wedge .
See more at the Dukascopy Analytics page

Check out our trading platform:
ZH 繁體中文
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
首頁 股票篩選器 外匯信號搜索器 加密貨幣信號搜索器 全球財經日曆 如何運作 圖表功能 網站規則 版主 網站 & 經紀商解決方案 小工具 圖表庫 功能請求 部落格 & 新聞 常見問題 幫助 & 維基 推特
個人檔案 個人檔案設定 帳戶和帳單 我的事件處理號碼 聯絡客服 發表的想法 粉絲 正在追蹤 私人訊息 在線聊天 登出