USDSGDTimeframe: 1D
Direction: Short
Confluences for Trade:
- Stochastic has yet to move into Oversold conditions
- Breaking Support Trendline (since April 2018)
- Fundamentally, with positivity the outcome from the temporary truce between Trump-Xi and a more dovish FED reduces the drag on global demand and is positive for the Asian region. The SGD is a trade-weighted basket and has high correlation with CNH and EUR. This two correlation will also benefit from the improved sentiment that we have.
Suggested Trade:
Entry @ Area of Interest 1.3680 - 1.3750
SL: 1.3813
TP: 1.3472
RR: Approx. 2.87 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
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Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any trade decisions taken based on the above opinion is purely at your own risks. DYOR.
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.