EUR/SGD is currently in a short term consolidation zone. This is a continuation pattern. As EUR/SGD breaks its current support, it will continue its bearish trend. However, if it fails to break its support and shows strength to retaliate, the move is cancelled until further confirmation.
EUR/SGD 4H Chart: Channel Down The common European currency is losing value against the Singapore Dollar in one month long descending channel whose formation represents a rebound of the pair from the upper trend-line of a preceding ascending channel. The short-term target for rate is expected to be an intersection of the monthly S1 at 1.5959 and the bottom edge...
EUR/SGD 1H Chart: Pennant The common European currency is advancing against the Singapore Dollar in a little pennant pattern that formed in the result of announcement of information on the US CPI last Friday. Since the pair is moving in a continuation pattern, then breakout is expected to occur in the northern direction. The length of the subsequent...
To ride the wave of EUR shorts, this might be a quick profit to work with. If it breaks 1.151500 which its dancing around currently. It's not a popular pair and SGD in general, so be cautious if entering.