Forex Analysis for USD/SGD
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Trade idea SELL 1.3700; TP1 1.3645; TP2 1.3620; SL 1.3720 The chart of USD/SGD offers a look at what seems like a harmonic “Bat” pattern. The pair is currently forming point D. It should be located somewhere around 1.3705 (88.6% Fibo of AB). In addition, there’s a 200-week MA in this area. This mean...
Trade idea SELL 1.3628; TP 1.3598; SL 1.3638 Looking for a way to bet on the weaker USD, we have considered several currency pairs but the one that came to our attention was USD/SGD. The pair has already made a significant decline this week and is now testing the 50-week MA at 1.3650. Still, it doe...
Company does not offer investment advice and the analysis performed does not guarantee results USD/SGD started a bearish trend after the MAS meeting where SGD became 1.6% stronger than USD in October 2018 to 1.9% stronger than USD as at end-March 2019.At the last MAS meeting, the Central bank ack....
Trade idea SELL 1.3539; TP1 1.3528; SL 1.3545 USD/SGD is recoiling down from the resistance line going back from October highs. Stochastic Oscillator is providing a sell signal on the daily chart. The decline below the 50-day MA at 1.3540 will open the way down to 1.3528 (short-term trendline suppor...
The Singapore dollar starts to attract more attention from different analysts. Why does the youngest currency in the world become a subject of interest for them and what are the long-term forecasts? What factors may affect the SGD? Trade truce The Singapore currency is easily affected by the events ...
Trade idea SELL 1.3535; TP 1.35; SL 1.3550 USD/SGD was stopped yesterday by the declining 50-day MA at 1.3610. It’s also where the resistance line from December highs is. The 50-day Moving Average went under the 200-day one, which is a negative sign. Daily Stochastic is falling. If the pair continue...
Trade idea SELL 1.3490; TP 1.3440; SL 1.3505 USD/SGD was rejected last week by the 100-week MA and 200-day MA in the 1.3580 area but managed to close the week above 50-week MA (1.3525). The new week started with the price below this line. On D1, the downtrend continues, MAs are in the bearish positi...
BUY 1.3615; TP1 1.3635; SP2 1.3665; SL 1.3605 USD/SGD has rebounded from the 50-week MA (1.3520) and is now retracing November-January decline. Yesterday the advance stalled at the 200-day MA (1.3610). That was natural: it’s hard for the market to take out such resistance from the first attempt. How...
Trade idea SELL 1.3490; TP1 1.3440; TP2 1.3350; SL 1.3510 USD/SGD formed the top at 1.3870 in October. The pair closed below 50-month MA in December and below 100-week MA (1.3600) last week. On D1, the pair passed down through the 200-day MA (1.3593), which will now play the role of resistance. Yes...