USDSGD: Good chance to go long
Updated
I reccomend going long USDSGD, both with a 3 times the daily ATR stop loss, as well as a tighter stop below 1.3506.
There seems to be evidence of a bottom forming here, and we can expect a sharp rally to fire soon, and resume the long term uptrend in this pair.
Fundamentals favor a turn, or at least a mejor retracement and a sideways market.
"The Singapore economy is projected to expand at a more modest pace in 2016 than envisaged in the October policy review. (...)
MAS will therefore set the rate of appreciation of the SNEER policy band at zero percent, beginning 14 April 2016. This is not a policy to depreciate the domestic currency, and only removes the modest and gradual appreciation path of the SNEER policy band that was in place." - from the MAS' minutes.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
There seems to be evidence of a bottom forming here, and we can expect a sharp rally to fire soon, and resume the long term uptrend in this pair.
Fundamentals favor a turn, or at least a mejor retracement and a sideways market.
"The Singapore economy is projected to expand at a more modest pace in 2016 than envisaged in the October policy review. (...)
MAS will therefore set the rate of appreciation of the SNEER policy band at zero percent, beginning 14 April 2016. This is not a policy to depreciate the domestic currency, and only removes the modest and gradual appreciation path of the SNEER policy band that was in place." - from the MAS' minutes.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
Trade active
Looks good.Note
Quite a steep retracement, if it doesn't progress, we could add to the longs.Trade closed manually
I closed yesterday, seems like one more leg down in oil correlated pairs.Trade active
Finally safe to go long again. You can use a stop 1/3 this size too.
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