UsdSgd - Short
With the DXY signaling a decline, we also expect a drop in USD/SGD. The price, forming a double top pattern, has started a corrective rise from the peak of the ascending channel. We might see a rise up to the neckline of the double top. Following that, our first target is the 23.6% Fibonacci retracement level, and if this level is breached, the 38.2% Fibonacci retracement zone.
Trade active
Trade closed: target reached
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.