Where is the USD/SGD going?

Where is the USD/SGD going?

Looking at the Weekly chart below, it has just broken above a 3-year long downtrend channel. The previous obvious support level was around 1.3450, where an obvious Double Bottom patterned formed (See blue highlighted area). So it is quite conceivable if the risk off sentiments were to continue, 1.3450 would be an obvious target.

USD/SGD Weekly Chart Showing Breakout Above 3-Year Downtrend Channel

Drilling down to the Daily chart, we see that there is a breakout after a Inverse Head & Shoulders pattern (see the blue circled area) formed. Perhaps it is the start of the up move towards the 1.3450 target.

Head & Shoulders Breakout On USD/SGD Daily Chart

Bullish Pennant Pattern Completed on USD/CAD Daily Chart

Update of the previous post where a potential AB=CD pattern was located.

Since then, a bullish pennant has formed and has completed with a breakout upwards. Please see the image below and blue highlighted area.

Bullish Pennant Breakout On USD/CAD Daily Charts

Bearish Flag Pattern Completed EUR/USD Daily Chart

Bearish Flag Completed On EUR/USD Daily Chart

Update of the previous post where a potential AB=CD pattern was forming with a Head and Shoulder pattern as well.

A bearish flag has seen developed and completed with a break down. Refer to the image above and the blue highlighted circle.

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Inverted Head And Shoulders On STI Daily

Inverted Head and Shoulder Within Inverted Head and Shoulders On STI Daily Chart

STI Daily chart showing smaller Inverted Head And Shoulders within a larger one. Also there was a bullish divergence showing on the MACD too.

STI Weekly Chart Showing Rebound Off 200 Week MA and Fib 61.8% Level

The weekly STI charts also shows that there has been a rebound off the 200 week moving average and also the 61.8% Fibonacci Retracement level. The Fibonacci was drawn from the low in 2009 to the high of 2010.

Another Potential AB=CD On USD/CAD Daily Chart

Potential AB=CD Pattern Forming On USD/CAD on Daily Chart

A potential AB=CD pattern is forming on USD/CAD on the daily chart. The pattern is expected to complete around 30 Nov 2011 and around the price range between 1.0823 and 1.0865. The 127.2% retracement of the the BC leg is at 1.0865 and AB=BC projection is at 1.0823.

Possible AB=CD Pattern Found On EUR/USD Daily Chart

Potential AB=CD Pattern Forming On EUR/USD Daily Chart

Potential AB=CD Pattern found on EUR/USD Daily Chart. Pattern is expected to complete on 02 Dec 2011, at price levels between 1.2844 and 1.2847. Currently price has rebounded off a long term uptrend line drawn on the weekly chart. Also it looks like a Head and Shoulders pattern is forming.

Possible AB=CD Pattern On GBP/USD Daily Chart

Potential AB=CD Pattern Found on GBP/USD Daily Chart

Found potential AB=CD Pattern on GBP/USD Daily Chart. Rebound off daily 200 MA and a possible Head and Shoulders Pattern forming. AB=CD pattern is expected to complete on 16 Dec 2011 at a price levels between 1.4820 and 1.4720.