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EUR/SGD 4H Chart: Medium-term pattern to prevailThe common European currency has weakened against the Singapore Dollar since early February when the pair reversed from the senior channel at 1.6450. This mark is likewise the highest price level since mid-2014. The strong bearish sentiment which prevailed during the last week of April forced a breakout from the aforementioned long-term pattern. The rate has since retraced from its bottom line, the 55-period SMA and the weekly PP at 1.5975. Nevertheless, technical indicators remain in favour of a surge within the following week in line with the medium-term channel. In case this scenario is to occur, the Euro should target the 1.61 territory which is restricted by the monthly PP, the 100-hour SMA and the upper channel line. In case some downside momentum still prevails in the market within the following days, a fall is unlikely to surpass a support cluster located near 1.5820.
Long
by UnknownUnicorn890690
CHF/SGD 1H Chart: Technicals point to declineThe Swiss Franc continues to depreciate against the Singapore Dollar in a medium-term channel down. The pair has diminished its trading range within this strongly-bearish pattern, especially after the Franc failed to reach its bottom boundary last week. As a result, the pair reversed from the 1.3480 area and formed a new junior pattern. Technical indicators are still in favour of a continuous fall despite the allayed downward momentum. In this case, a possible southern target for the remaining trading sessions in April could be the most senior channel and the monthly S2 located near 1.3410. This level might force a reversal and a subsequent surge towards 1.3850. Meanwhile, this appreciation might occur even sooner if the Franc remains trading sideways during the following two sessions. A strong resistance is set by the 200-hour SMA, two channel lines and the weekly PP at 1.3550.
by UnknownUnicorn890690
SGD/JPY 1H Chart: Points to possible declineThe Singapore Dollar has been appreciating against the Japanese Yen for the past few weeks. The pair breached a senior channel late in March and has since reached the upper boundary of a shorter-term descending channel. If looking from a longer perspective, this pattern resembles a range in which the rate has been bounded since early February. The Singapore Dollar was testing the upper boundary of this channel and the monthly R1 at 82.00 late on Tuesday. The given resistance pressured the rate lower back down to the 55– and 100-hour SMA at 81.60. The diminishing trading range in the most junior channel suggests that the rate could respect the 82.00 level and thus edge lower towards the 23.60% Fibonacci retracement and the monthly PP at 80.80 during the following week. This decline might continue even further down to a ten-month low of 79.50.
Short
by UnknownUnicorn890690
EUR/SGD 4H Chart: Bearish in medium termAfter reaching a three-year high of 1.6427 early in February, the common European currency began trading in a new wave down. This movement has been bound in a descending channel but with a diminishing trading range. Technical indicators demonstrate that the pair is likely to edge higher and approach the prevailing junior channel down during the following week. Some hindrance could be encountered near the combined resistance of the 55-, 100– and 200-period SMAs and the monthly PP circa 1.62. By and large, the rate is expected to maintain its current trend south. A possible target for the following month is the 1.5950/1.5900 territory where the bottom boundary of another channel is located.
Short
by UnknownUnicorn890690
USD/SGD 1H Chart: Pair still remains weakenedUSD/SGD has been trading in a triangle-like formation since early 2018. Following a test of its lower boundary on March 27, the US Dollar has began a gradual recovery against its Singapore counterpart. The pair even breached a three-week trend-line around 1.3130 today. This factor suggests that it might be bound for a surge towards the upper triangle line in the 1.3250/1.3300 territory. Even if this appreciation does not occur during the following week, bulls are expected to prevail in the medium term. Meanwhile, technical indicators flash bearish signals, so a decline is a more likely scenario this week. A possible downside target for today could be the combined support of the 55-, 100– and 200-hour SMAs and the weekly PP at 1.3110. A further decline would push the US Dollar below the bottom triangle boundary and the weekly S1, thus approaching the three-year low of 1.3022. This level might remain unreached, as the 1.3060 area is expected to provide unbreakable support.
by UnknownUnicorn890690
AUD/SGD 4H Chart: Possible change in sentimentAUD/SGD continues to trade in a long-term descending channel. The pair, however, has diminished its trading range, as it failed to overcome the 1.06 mark late in January. The Aussie has been since edging lower in a junior channel and was consolidating near 1.0124 at the time of this analysis. This level is a 2017/2018 low. The pair trading sideways for the last four days suggests that the market sentiment might change in favour of bulls soon, especially given that this area is likewise reinforced by the weekly S1 and the monthly S2. In order to confirm this scenario, the Australian Dollar has to overcome two significant resistance levels, namely, the 55– and 100-hour SMAs and the weekly PP at 1.0250 and the 200-hour SMA at 1.03. A possible upside target is a downward-sloping trend-line circa 1.0450. The pair might even climb higher to test the upper boundary of the senior channel in the 1.07/08 territory.
Long
by UnknownUnicorn890690
USD/SGD 4H Chart: Channel going upwardsThe last time the USD/SGD pair was reviewed by the Dukascopy analysts, it was discovered that there is a medium term ascending channel guiding the Buck higher against the Singaporean currency. That pattern has remained intact and is best observed on the four hour timeframe chart. However, by switching to the hourly chart one can spot additional details. Namely, the pair is squeezed in between support levels ranging from 1.3194 to 1.3205 level and the new monthly pivot point at the 1.3217 mark. In accordance with the pattern and the fact that the support seem much stronger, the pair should break out to the upside to make another attempt to pass the resistance levels, which are located near the 1.3285 mark.
Long
by UnknownUnicorn890690
USD/SGD Daily Update (27/2/18)Price has made its move. Too late to short and too early to long. 1.305 would be an area that provides a low risk entry position Lets see if PA could bounce the 3rd time there. Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation. SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
by imjmesl
Eur Sgd stay or go Price broke above this s/r zone to the upside and already retested it from above as you can see. Iam looking for a short if price can break the zone and gives me a close below . My target for the short trade would be the rising trendline . If we arrive at the TL i wil look for: A) break and further downside move B) rejection and and a move to the s/r zone to the upside Long scenario The s/r zone gives support to the price and pushes it back up again. I would like to see abreak of the small resistance here before thinking of a long trade in daily chart.
by Trueman23
USD/SGD 1H Chart: Rate narrows trading rangeNZD/JPY has been confined by a long-term channel against since November, 2016. Its trading range, however, has diminished substantially during the previous month. As a result, the pair has formed a wedge-like formation (dashed lines) which was drawn from two opposing trend-lines. Its bottom line was tested last week when the Kiwi reversed from the 1.3080 mark. It has since moved higher in a narrow channel up. Technical indicators suggest that this pattern should be breached today, thus allowing the rate to approach the combined support of the 200– and 100-hour SMAs, the 23.60% Fibo retracement and the weekly PP in the 1.3180/67 territory. Given the strength of this cluster, the Kiwi could reverse near this territory and later test the upper trend-line and the 38.20% Fibo near 1.3280. Subsequently, the rate is expected to form a new wave down just to continue trading in line with the wedge.
by UnknownUnicorn890690
Short SGD/USD now. Then go long on Feb 24th 2018.The Singaporean government has opted for a tighter monetary policy because they are offering bonds worth $24 Billion. I'm used to superlatives, BUT a $24 Billion bond issue?!. Its as if the government went around its own banks and is offering a product itself. SGD will strengthen because of Singapore's strategic business location, good business environment, and as a result of a tighter policy - restricting currency. Most indicators point to the SGD strengethening long-term.
Short
by baronbloe
CHF/SGD 1H Chart: Bearish sentimentThe Swiss Franc has been appreciating gradually against the Singapore Dollar since mid-January. This bullish sentiment, however, has allayed during the previous sessions, thus bounding the rate in an increasingly narrower trading range. Meanwhile, the pair tested the upper boundary of the senior channel down near 1.4250 on February 9. This factor could serve as another confirmation that the bearish sentiment could finally take the upper hand in the nearest time. A possible target within the following weeks in the bottom line of the senior channel in the 1.3800/1.3850 territory. If looking at the pair’s possible direction this week, the Franc is expected to recover slightly from its four-day fall and reach the combined resistance of the 100– and 200-hour SMAs and the weekly PP circa 1.4150.
Short
by UnknownUnicorn890690
SGD/JPY up trendHello traders, I am a noobie in trading. I am interested in Forex as a start to my trading. I have been looking at SGD/JPY rates for the last weeks as I am travelling to Japan end of March. My question is when do I buy my JPYs. I added the resistance and support line on the chart above. My first thought is that the up trend maybe turning bearish. Maybe I should buy it soon before the SGD weakens further. Would love to hear some of the more knowledgable traders here cheers Dr. Espinha
Long
by Espinha
SGD/JPY 1H Chart: Bearish sentiment allaysThe Singapore Dollar is moving lower against the Japanese Yen in a channel down. This movement south began on February 2 when the pair bounced off the upper boundary of a more senior channel down. The rate has failed to breach the combined support of the weekly S1 and the 38.20% Fibo retracement at 80.83, thus diminishing its trading range within the junior pattern. This suggests that the prevailing bearish sentiment might finally allay and therefore allows bulls to regain some lost positions. In order to do so, the Singapore Dollar has to surpass the resistance of the 55– and 100-hour SMAs and the upper channel line at 81.20 and 81.40, respectively. This could sent the pair for a test of the 82.20 or 82.70 areas within the following two weeks. On the other hand, further downward pressure from the 55-hour SMA might dominate until the senior channel circa 80.20 is reached. This pattern is expected to hold strong, thus allowing for a subsequent surge.
Long
by UnknownUnicorn890690
usd sgd short after s/r retest + Trendline confluenceWe are in a clear bearish market and going down since around 1year The last weeks we can see a correction in direction of a previous s/r zone which was respected several times before price was able to break it down + extra confluence by a trendline with several touches. Now again we have 2 scenarios which could happen here. 1) Price respects the s/r zone + the trendline giving us a great opportunity to go short into the bigger picture trend direction 2) Price breaks the trendline + the s/r zone to the upside telling us that the downward trend could come to an end and offer us a chance to go long in a very early stage of this new trend I personaly prefer the short side cause its always better to go with the bigger picture trend than against it but if market tells us a long is the way to go i will not discuss with him ;-)
Short
by Trueman23
EUR/SGD 1H Chart: Senior channel unlikely to holdThe Euro has been appreciating against the Singapore Dollar in a two-month ascending channel. On February 2, the pair reversed from the monthly R1 at 1.6443— which is also a 2016/2018 high— and began edging lower in a new short-term wave down. As apparent on the chart, the pair bounced off the weekly PP today and fell sharply past the 100– and 200-hour SMAs near 1.6322. If the bearish sentiment continues to dominate the market within the following hours, traders could see a breakout south from the senior channel and a subsequent price decline down to the monthly PP at 1.6174. On the other hand, the Euro might try to regain some lost positions after today’s fall and thus find support at the weekly S1 and the senior channel circa 1.6250. Upside potential in this scenario could be the 1.6443 mark. The rate’s subsequent movement should nevertheless be south.
by UnknownUnicorn890690
CHF/SGD 1H Chart: Rate signals to declineCHF/SGD has been trading in a steep ascending channel for two weeks now. This pattern formed shortly before the rate breached the dominant eight-week channel on January 25. Following this breakout, the pair continued to edge higher; however it has since failed to reach the upper boundary of the junior channel. Thus, it seems that the prevailing bullish sentiment might be gradually losing strength. The pair is currently trading near the 1.4150 mark which is likewise reinforced by the upper boundaries of two channels (the senior one was formed in late 2016). All these signals point to a soon decline. However, in order to confirm this scenario, the Franc should breach the 55– and 100-hour SMAs near the 1.4075 mark. The pair’s subsequent move then should be a retracement from the breached channel circa 1.39—an area which is likewise reinforced by the 200-hour SMA, the monthly PP and the 38.20% Fibo. In the meantime, some minor upward movement within the following session or two is still possible.
Short
by UnknownUnicorn890690
AUD/SGD 1H Chart: Aussie breaks channelThe Australian Dollar was trading in a channel up against the Singapore Dollar for two months. During the last week, the Aussie failed to reach its upper boundary several times —a move which was followed by a soon breakout near the 1.0503 mark. At the time of the analysis, the pair was trading near 1.0500. In case it succeeds ate reversing to the upside from this two week low, this would confirm the bottom boundary of a newly-formed ascending channel, thus pointing to a subsequent surge. The current positioning of technical indicators suggests that the Aussie might be due for a correction upwards in line with the aforementioned junior channel. A possible upside target for this session could be the combined resistance of the 100– and 200-hour SMAs, while it might reach 1.0660 within the following week. On the other hand, a bearish breakout from 1.05 should send the pair towards the 38.2% Fibo retracement and the monthly S1 at 1.0445 and 1.0425, respectively.
Long
by UnknownUnicorn890690
SGD/JPY 4H Chart: Singapore Dollar tests long-term channelThe dominant long-term pattern which as confined SGD/JPY since mid-2016 is an ascending wedge. This long-term pattern is mentioned because the rate bounced of its lower boundary on Tuesday. Thus, the Singapore Dollar’s attempt to reach the bottom line of a five-week channel was stopped near 82.60. The rate has since edged slightly higher during the previous session; however, the rate still faces several noteworthy resistance areas, such as the 55-hour SMA and the 38.20% Fibo at 83.30 and the monthly PP, the 23.6% Fibo and the 200-hour SMA circa 83.45, that are likely to hinder the pair for a brief period of time. These barriers, however, should eventually surrender and allow the pair to initiate a medium-term surge. A possible target for the following week could be the psychological 84.00 level.
Long
by UnknownUnicorn890690
Time to rejoice for Malaysian across the border?Malaysia raises key rate for the first time since 2014. Coupled with a hawkish tone from Bank Negara Malaysia, we are likely to see the Malaysia Ringgit continue strengthening against the Singapore Dollar. Price has broken the inner trend line structure at 3.0759 late 2017. This opens up more downside potential for SGD/MYR. However, we are seeing a 5-wave structure completed at 2.9936, as the larger degree wave 3. This give us the expectation that we might see a retracement towards 3.0166 - 3.0441 before another move lower towards 2.9384. For Singaporeans, this may be a good time to cross the border and stock up during the 1H of 2018. For investors, it would also be wise to look into the Malaysia stock market, riding not only the capital gains from the stock market but from the foreign exchange rate too! For Malaysian, well.... it will still be relative expensive to shop in SG anyway! LOL
Short
by KarYong
USD/SGD LONG TERM VIEW for year 2018USD seems to be weak in the upcoming year. To new traders looking at which currency to deposit into your broker, seems like SGD is good. So long as 1.36 holds, It should go down lower. Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation. SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
Short
by imjmesl
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