USDSGD - 2a - 180122 - LONG - OANDA - AT - 4H - (RRR 3.66)USDSGD - 2a - 180122 - LONG - OANDA - AT - 4H - (RRR 3.66)
Sgd
EURSGD - 2a - 190126 - LONG - OANDA - AR - 4H - (RRR 8.4)EURSGD - 2a - 190126 - LONG - OANDA - AR - 4H - (RRR 8.4)
NZDSGD: Long term short opportunity.The pair has been trading inside a 12-month long Channel Down pattern on 1M (MACD = -0.013, B/BP = -0.0366) and the neutral RSI = 45.338, Highs/Lows = 0.0000 indicate that we are close to a bearish reversal point following the rise since the beginning of the year. The Channel's Lower High was placed earlier in December and we have a long term bearish leg ahead of us in search of the Lower Low. As measured, this should be within 0.85239 - 0.85750. However we are following a more sensible medium term TP of 0.8900 (the previous Lower Low).
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GBPSGD - 2a - 190115 - SHORT - OANDA - AT - 12H - (RRR 3.66)GBPSGD - 2a - 190115 - SHORT - OANDA - AT - 12H - (RRR 3.66)
CADSGD: Quick sell opportunity.The price has been trading within a very steady 4H Channel Down (RSI = 31.405) on a slow pace (MACD = -0.003, Highs/Lows = -0.0034, BBP = -0.0087). This creates the condition for a quick short profit on a 1:1 RR with TP = 0.99800.
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USD/SGD 1H Chart: Decline continuesThe Singapore Dollar has been appreciating against the US Dollar after the exchange rate reversed from the upper boundary of a medium-term channel at 1.3870.
As apparent on the chart, the pair is also trading in a short-term descending channel. From a theoretical point of view, the pair should follow the junior channel and aim for the lower boundary of the senior channel near 1.3670. Important support level is the monthly PP at 1.3700.
If the senior channel does not hold, a breakout south might occur and the rate might drop to the Fibonacci 38.20% at 1.3629.
CHF/SGD 1H Chart: Slight downside potentialDownside risks have dominated the CHF/SGD currency pair since the end of September, and the pair breached a medium-term ascending channel north at the middle of October.
As apparent on the chart, the pair is being pressured by the 55-, 100– and 200-period SMAs on the 4H time frame. It is expected the pair continues to decline. An important support level to look out for is the Fibonacci 38.20% retracement at 1.3672.
If given level holds, most likely, the pair surges towards the Fibonacci 61.80% at 1.3895.
USD/SGD: Opening new long positionsAprox. levels: BS: 1.375; SL: 1.3685; TP: 1.395 (1) 1.42 (2) (1.46%) (-0.47%) = 0.99
USDSGD Holds Trend Support | Potential Bullish ReversalUSDSGD has tested key support three times in November, in which price quickly rebound after reaching this level. This is significant as quick rebounds indicate bullish sentiment, as buyers continue buy at dips. This is further evident by the fact that price has been trading in a channel trend since June of this year. Going forward, you must look closely to the performance of Chinese & emerging markets stocks for potential correlation (Since the pair is USDSGD the correlation will be inverse to stock price). Lastly, we cannot forget about the ongoing trade war, in which bad news coming out of China will also be bearish of the Singaporean dollar.
Trade Step-ups:
Bullish Reversal: Price rejects break from long-term bullish trend. Price swings to the topside of the channel. In addition, it is entirely possible for price to break current support level to test the final support before price reverses. Profit levels to look for are 1.3840 & 1.3870.
Bearish Breakout: Price breaks current support level and the final support level. Expect more declines if price consolidates below 1.3680.
SGD/JPY 1H Chart: Two scenarios likelyThe SGD/JPY currency pair has been trying to surpass the resistance level—the Fibonacci 50.00% retracement at the 83.00 mark.
Two scenarios likely. If given resistance level does not hold, it is likely that the exchange rate go upwards to re-test the upper boundary of a long-term ascending channel located circa 83.45. Important level to look out for is the monthly R1 at 83.16.
Otherwise, a reversal south might occur in the nearest future. A potential downside target is the Fibonacci 38.20% retracement at 80.72.
Possible Short Position SGD/JPYSELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
Chart time frame - H4
Timeframe - 1 Day
Actions on -
A – Activating Event
Currency Pair creating a Double Top .
B – Beliefs
Market will be rejected at @82.37 level and move towards the first Target 1 level @ 82.00 level.
FOREXCOM:SGDJPY
Trade Management
Entered @ Still waiting for confirmation.
Stop Loss @ Still waiting for confirmation.
Target 1 @82.00
Risk/Reward @ 2:1
Happy trading. Will let you know closer to the time if or when executed:)
Follow your Trading plan, remain disciplined and keep learning !!
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Thank you for your support :)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
CADSDG - ANOTHER EXOTIC PAIR UPDATECHECK THIS SET UP OUT. LOOKING GOOD
SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
USDSGD: Target hit. New High on sight. Long.TP = 1.38500 hit as the 1W Channel Up (RSI = 59.506, MACD = 0.009, B/BP = 0.0042) marginally crossed the monthly 1.3858 Resistance before pulling back for a new Higher Low (Highs/Lows = 0.0000). Since the Higher Low delivered a rebound, we can expect the Channel Down to extend to a new Higher High at or above 1.39000. USDSGD is a solid buy opportunity. We are long, TP = 1.39000.
EUR/SGD 1H Chart: Two scenarios likelyThe Euro has been depreciating against the Singapore Dollar since the end of September when the pair reversed from the upper boundary of a long-term channel at 1.6080.
Currently, the pair is testing the lower channel line located at 1.5691. Given that the rate is pressured by the 55-, 100– and 200-hour SMAs, it is expected that a breakout south from the channel occurs soon. It is likely that the currency pair aims for the Fibonacci 0.00% retracement at 1.5518.
However, if given channel holds, a reversal north might occur in the nearest future, and the pair could target the Fibonacci 38.20% retracement at 1.5872.
SGD/JPY 1H Chart: Short-term decline expectedDownside risks prevailed in the market, thus sending the Singapore Dollar 2.60% lower against the Japanese Yen.
Given that the pair is pressured by the 200-period SMA (4H) at 81.96, the general direction is expected to remain south within the scope of the next week. Two important levels to look out for are the monthly S1 at 81.24 and the Fibonacci 39.80% retracement at 80.61.
However, this decline might not be immediate, as some upside pressure is likely to push the exchange rate up to the the weekly R1 at 81.86.
AUDSGD: Target hit. New Channel Down emerged. Short.The previous TP = 0.99691 was hit as the 1W Channel Down (RSI = 33.366, MACD = -0.011, Highs/Lows = -0.0118) even tested our maximum (at the time) downside spot of 0.97295. A new Channel Down on 1D was developed (RSI = 37.323) that is aiming at a near 0.9555 Lower Low. Short, TP = 0.96100.
EURSGD: Near a 1W Higher Low. Long.The 1D Channel Down (RSI = 43.604, Highs/Lows = -0.0005) is approaching 1.57500 which is a Higher Low on the 1W Channel Up (RSI = 47.255, Highs/Lows = 0.000, STOCH = 63.835). That is a prime long entry and can be split for three targets: the two previous Higher Highs = 1.6000 and 1.6110 and the next projected Higher High = 1.6200.
SGDHKD: Target hit. Channel Down continuation. Short.TP = 5.6600 hit as the 1D Channel Down expanded but on a lower gradient (MACD = -0.006, B/BP = -0.0102) with RSI and Highs/Lows neutral. Nevertheless there are two optimal short opportunities presented on the chart depending on which pattern prevails. TP = 5.63050.
CADSGD: Target hit. Channel Up continuation. Long.TP = 1.06200 hit as despite a deviation, the 1W Channel Up (RSI = 55.270, MACD = 0.004, BBP = -0.0120) made a Higher High near 1.07500. With the Highs/Lows = 0 (neutral), we can assume that the Higher Low is already priced and that the Channel Up will seek a new Higher High on CADSGD. Long TP = 1.0700.
AUD/SGD 1H Chart: Strong support foundUpside risks dominated the AUD/SGD currency pair, thus sending the Australian Dollar 0.92% higher against the Singapore Dollar. This gradual increase in price began at the beginning of October when the rate reversed from the bottom boundary of falling wedge.
If looking at the pair's current movement, it has breached the 55-, 100– and 200-hour SMAs on the 1H time frame. Thus, it is expected that these lines help to support the rate, thus leading to further advance.
However, technical indicators for the 1D and 1W suggest that bearish momentum might occur soon. It is unlikely that the pair falls below the monthly S1 at 0.9971.
