USD/SGD 1H Chart: Bullish momentum
The US Dollar has been appreciating against the Singapore Dollar since the beginning of 2018. This movement is bounded by a rising wedge.
Considering technical indicators flash bullish signals on the 4H and 1D time-frames, it is very likely the pair upside momentum starts prevailing within the nearest time. The most probable upside target during the following week is the upper boundary of given wedge near 1.3860. Important resistance cluster to look out for is formed by the weekly and the monthly R1 near 1.3840.
It is the unlikely case that some bearish pressure still prevails in the market, the US Dollar should not exceed the support level formed by the weekly S1 and the monthly PP at 1.3718.
Considering technical indicators flash bullish signals on the 4H and 1D time-frames, it is very likely the pair upside momentum starts prevailing within the nearest time. The most probable upside target during the following week is the upper boundary of given wedge near 1.3860. Important resistance cluster to look out for is formed by the weekly and the monthly R1 near 1.3840.
It is the unlikely case that some bearish pressure still prevails in the market, the US Dollar should not exceed the support level formed by the weekly S1 and the monthly PP at 1.3718.