Currency pair analysis nzdsgdIt is possible to reach the target by combining strategies 1 and 2 myself
Nzdsgdshort
NZD/SGD : FORECAST FUNDAMENTAL ANALYSIS + NEXT TARGET POINTThe New Zealand Trade Balance for August was reported at -NZ$2,144M monthly and at -NZ$2,940M 12-month year-to-date. Forex traders can compare this to the New Zealand Trade Balance for July, reported at -NZ$397M monthly and -NZ$1,100M 12-month year-to-date. Exports for August were reported at NZ$4.35B and Imports at NZ$6.49B. Forex traders can compare this to Exports for July, reported at NZ$5.77B, and Imports, reported at NZ$6.17B.
Singapore Industrial Production for August increased 5.7% monthly and 11.2% annualized. Economists predicted an increase of 3.1% and 8.8%. Forex traders can compare this to Singapore Industrial Production for July, which decreased 2.8% monthly and increased 16.4% annualized.
The forecast for the NZD/SGD remains bearish after this currency pair has reached the top of its descending price channel.
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NZDSGD. The price in this currency pair will go down.Hello!
We see how recently the price has changed a lot,
it has been very volatile,
the support level has already helped the price rise,
but it has not been able to pass the key level and is unlikely to do so in the near future,
so the price will fall down.
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NZDSGD. Price will resume its growth at the support level, but iHello dear subscribers!
On this chart, a drop in currency is clearly visible.
The price to resume its growth as soon as it reaches the level of support,
but for now it will continue to fall.
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NZDSGD - ShortTwo possible scenarios here
My tendency is to short this currently unless we break the resistance level above.
But currently we are approaching support again and I'm hoping we can get a break and a retest of this level and then look for entry reasons to get short.
Lets see how it plays out
Any questions feel free to ask
Navigating the Market : NZDGD 27/9This pair went through a rare two-day whipsaw-ish price expansion of 90+ pips each day. That is almost twice the 20-day ADR for this pair. Due to this I am anticipating a rather subdued price action today with 35-55 pips range on top of today is Friday and there are no risk events for New Zealand and Singapore.
I do see scalping opportunities (in 15 min or 5 min chart) for a Long trade if there is a stop hunt tapping under the London low and short trade if there is a stop hunt tapping at the NY-only session high. I am not a scalper so don't listen to me. However, I will short this pair if the latter happens. Due to negative swaps, I won't be holding this trade overnight, I'll take what I get and find a solution to continue the trade next week.
NZD/SGD Trading PlanNZD/SGD Trading Plan
Currency rate made a fake broke of key level 0.9192. D1 close upper it.
For me, it is a signal to open long position with low risk.
Most of the times big players protect such levels because when they made fake broke of the key level. They activate all limit orders of retail traders, for big players it is fuel. If someone wants to buy someones need to sell.
I set Buy Limit at 0.9204
S/L: 0.9164
T/P1: 0.9397
T/P2: 0.9672
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