EUR SGD Weekly

I am presently working in a German company, therefore, EUR is definitely one currency I am interested in.

Fig 1 EUR SGD Weekly Chart

Again taking a 10-15 years chart data it is clear of a reversal due to double top. Mind you the minimum objective of the double top is completed. It is officially on a down trend. The question is: How much further is it going?

Certainly we are still not seeing a  bottom formation, which likely to be flat, chart moving side way. The fact that it it going further south. So I am testing out with Gann Fan line. Plus performing a wave count, it seems that it should be doing the final E wave of the 5wave down. However, I think it may not seize until it hits the 23.6%, which is around SGD1.34 mark.

So for the first time, I would find things in Munich to be cheap! For the moment, that is the furthest I can estimate for EUR.