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SGDUSD Continues Moves Within a RangeWhile USDSGD began the past week of trading with a downward moves, these were quickly reversed by the end of the week and the price ended up where it started: Clearly, traders can see over the past few months that USDSGD prefers to trade within its range of horizontal resistance at around 1.3612 and of support between around 1.3442 and 1.3473. Bull bear indicator signals oversold while RSI is less convinced of a move in either direction. Meanwhile, a whole host of exponential moving averages suggests that the trend is further down. Overall, the in general picture for USDSGD remains what it was last week and the week prior which is to short.  For more analysis and charts please go to www.anthonylaurence.wordpress.com
Short
by WhiskeyTangoFoxtrot3
USDSGD Poised for a ReboundMoving averages suggest we have some more way to go down as we continue a strong downward trend. Moreover, the strength of this slide is notable. Resistance from February was broken as was resistance from January AND price action also broke a trend line from back in 2018. In spite of this, RSI and stochastic suggests we are poised for a rebound as both are flashing that this move was overdone. Let's see how it pans out or if this trend will continue. Keep in mind though, this is a short term long call. My apologies if I don't keep up and update the trade on time on here. Keep an eye on DXY as well as it looks like the dollar was hit across the board from the dovish Federal Reserve sentiment. For more of my analysis, please check out more of content here anthonylaurence.wordpress.com
Long
by WhiskeyTangoFoxtrot3
EURGBP SHORT BASIC STRUCTURE + 1234Looking at EURGBP, price has been a down trend since April this year. Price has retraced to touch the 0.618 RETRACEMENT OF XA. The 0.618 - 0.718 RETRACEMENT ZONE also confluences with a major structure level, the previous high! Looking deeper, we see that the retracement is also a 1234 SETUP, confluence with RSI DIVERGENCE and a DOJI, whose upper wick extends into the 0.618-0.718 RETRACEMENT ZONE. Would be a fantastic setup to short. However, bearing in mind the EU Referendum happening on 23/06/16 which will decide if the UK will stay in the EU, i will probably sit this pair out, at least until the storm passes!
Short
by xerxeschongxian26
NZDCHF BEARISH BUTTERFLY and BULLISH CYPHER LONG? SHORT?Identified 2 Advanced patterns on the NZDCHF. Purple Triangles represent a BEARISH BUTTERFLY(Completed) Blue Triangles represent a BULLISH CYPHER Clearly we are now stuck at an impasse, to go LONG or SHORT, that is the question. Taking a step back to the 1D time frame, we can see that price has moved in a pennant formation ( grey lines) While it is not within my trading plan to utilise such price patterns, a price breakout to the up/down side is known to follow the termination of a pennant. Thus, we know that SOMETHING is BOUND to happen, but which direction will it go? Based on the 1D and 1W time frame, this pair seems to be in a downtrend, so i would be entering on the BEARISH BUTTERFLY. However i have yet to refer to the fundamentals such as the COT report and/or Currency Strength Meters. Thus my current verdict would be to short this pair
by xerxeschongxian26