There's a high probability of a price correction right to the resistance line. The deals to BUY seem the most effective.

So far in 2018 we have been seeing a downward trend. Investors, who expected a tightening in monetary policy and the completion of the economic stimulus program in Europe, will have to wait more. Although the ECB notes economic growth in the eurozone, they're not ready to implement their long-promised plans due to weak inflation - well below the target level of 2%. The rapid economic growth in the EU, meanwhile, is slowing. This is noted by all analysts without exception and confirmed by the latest economic reports. In particular, the latest data on sales volumes in Germany showed a decline in sales for the fourth consecutive month. Investors are also afraid of the unstable political situation in the UK that may impact their economy.

The Singapore dollar received support from convincing economic statistics amid a weak EUR. The unemployment rate fell in the first quarter of 2018 to 2%, which is the lowest level for the last two years. The property price index in Singapore rose to 144.2 points, the highest since June 2015. Singapore's output rose to 5.9% in March, surpassing investors' expectations by 0.5%.


At the moment we can expect a price correction in favor of the Euro. This week the Euro will be able to get support with the release of new data on the consumer price index and the index of business activity in the services sector. Today's data about the GDP and unemployment in the Eurozone, as well as data about the Italian GDP, fully coincided with market expectations, which already has had a positive impact on the EUR/SGD. In this situation, the most optimal deals would be the deals to buy, against the trend. We can awaiting a new wave up to the resistance line in the near future, but within the current trend. The MACD and Stochastic oscillators confirm the efficiency of the long deals.