USDSGD Reaching a key level to watch**Find out more from my Tradingview Stream this week**
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Sgd
usdsgd a down trend It is down on the daily and h4 timeframe..just look for setup to go short.
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USDSGD HOT PROJECTIONThis market is in a current dominant downtrend. Price action dictates an exhaustion in the short-lived uptrend correction and a continuation of the downtrend. The daily trendline aligns with the current price and the short trendline drawn using the 4hr and 1hr timeframe signifies a possible entry for a lengthy downtrend continuation for the week.
Shorting the USD/SGD; 0.5% of portfolio risk.One of our investment programs have shorted a few USD-related exchange-traded derivatives, including A-book CFDs (with Global Prime).
In the very short-term, with very risk-adjusted positions, we are entering long in equities, shorting the USD, and executing other correlated positions with a portfolio hedge of 30%.
We have this position both in our systematic, algorithmic trend-following programs as well as a global discretionary one.
Position:
SS: 1.3111
GTSL: 1.3180
TP: 1.2860
Our risk algos can modify the weight of the position if needed in the future.
CADSGD, Descending Triangle For A Big DropCAD/SGD - The price dropped below the lower boundary of the descending triangle.
The target is around 1.00
Usdsgd having more bearish toneMore downside to come?
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USDSGD Entered its 6 year Resistance Zone.The USDSGD pair has entered a Resistance Zone where it has made long-term tops and got rejected since January 2016. Even if the long-term pattern is a Channel Up, technically there isn't much room for further growth before a correction near the 0.786 Fibonacci retracement level at least.
It is interesting to see also that all rejections had the same aggressive sell-off behind them, reaching the middle of the Channel (0.5 Fib) in a matter of 2-3 months. Also check the 1W RSI. Strong rejections took place once it broke above the 70.000 overbought barrier. Right now we are above it.
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With USD strengthening, Usdsgd should be for a LONG***************************************************************************************
Hello there!
If you like my analysis and it helped you ,do give me a thumbs ups on tradingview! 🙏
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Disclaimers:
The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes.
The author/producer of these content shall not and will not be responsible for any form of financial/physical/assets losses incurred from trades executed from the derived conclusion of the individual from these content shared.
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SGDJPYHELLO GUYS THIS MY IDEA 💡ABOUT SGDJPY is nice to see strong volume area....
Where is lot of contract accumulated..
I thing that the buyers from this area will be defend this long position..
and when the price come back to this area, strong buyers will be push up the market again..
UPTREND + Support from the past + Strong volume area is my mainly reason for this long trade..
IF you like my work please like share and follow thanks
TURTLE TRADER 🐢
USDSGD pulling back. Two levels to buy.The USDSGD pair made a Double Top rejection two days ago and is currently on a strong bearish 1D candle. With the 1D RSI also rejected on a Double Top last since in September 29 2021, the next level to consider entering is just above the 1D MA50 (blue trend-line), which is where the June 16 Bull Flag found Support. A 1D candle close below the 1D MA50, should target the bottom of the long-term Channel, just above the 1D MA200 (orange trend-line), which is where the last two Higher Lows were formed on August 11 2022 and April 14 2022.
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Difficult decisions The bot signalled a double confirmation long on SGDJPY but looking at the chart I have my doubts. USDJPY is clearly the stronger of the two and has moved back above the inflection level, where as SGD is looking weaker after falling below INF and showing some bearish price action.
Interestingly however USDJPY didn't signal from the bot, so the difficult decision is to trust the bot and enter SGD or go without a clear signal and buy USD?
Neither trade really fits into my playbook, so I'm sitting on my hands for now.
CHFSGD possilbe sell zone!!CHFSGD on the monthly has formed a hanging man with a lower high. It is a high probability that the price will bounce from the resistance with a lower high or with a false breakout which we could see daily bearish price action on the resistance.
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Singapore dollar weighing down the British poundThe Singapore dollar has shown great strength for the past 12 months against the Great British pound, underpinned by the Singaporean economy growing 7.6% and expectations for it to continue growing the rest of this year. Adding to the strength of the Singapore dollar in recent weeks is China starting to lift its strict lockdowns, as China is Singapore’s third largest trading partner.
Looking at the weekly chart of the GBPSGD, we can easily see the strength of Singapore weighing this pair down. The BGPSGD has recently taken out the low from June 2020 and is possibly targeting the March 2020 next.
With an Aroon indicator on the chart of GBPSGD, we can look at the portions highlighted within the two circles and their corresponding trends in the chart above. The Aroon indicator is typically used for spotting trends and the strength of trends by following the movement of an orange ‘Up’ line and a Blue ‘Down’ line.
Within the first circle, the rising Up and Down lines suggest a weak trend for the corresponding chart. As such, the uptrend quickly petered out and entered a period of consolidation and a quicker reversal.
Within the second circle, we can see the Down line cross below the Up before reversing its trajectory. This movement in the Aroon indicator corresponds with the attempted bullish push in the GBPSGD. Once the Aroon lines reversed, The bullish push disappeared, and a strong bearishness entered the GBPSGD, and did so until the start of May. Currently, we can see that the two Aroon lines are separated by quite some distance. It may be worth keeping track of the Aroon lines to determine how close the GBPSGD wants to move toward that March 2020 low, if its downward trend holds.