USDSGD on a counter channel 🦐USDSGD on the 4 chart is moving inside a daily descending channel.
The market after the bounce on the weekly support, bounce until the 0.786 Fibonacci retracements inside a channel.
If the price will break below, according to Plancton's strategy, we can set a nice short order.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Usd-sgd
💡Don't miss the great buy opportunity in USDSGDMidterm forecast:
While the price is above the support 1.2995, beginning of uptrend is expected.
We make sure when the resistance at 1.3460 breaks.
If the support at 1.2995 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 1.3146 on 01/06/2021, so more gains to resistance(s) 1.3335, 1.3390 and maximum to Major Resistance (1.3460) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
Take Profits:
TP1 @ 1.3335
TP2 @ 1.3390
TP3 @ 1.3460
TP4 @ 1.3675
TP5 @ 1.3785
TP6 @ 1.4035
TP7 @ 1.4635
TP8 Free
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💡Don't miss the great buy opportunity in USDSGDMidterm forecast:
While the price is above the support 1.2995, beginning of uptrend is expected.
We make sure when the resistance at 1.3460 breaks.
If the support at 1.2995 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
A trough is formed in daily chart at 1.3146 on 01/06/2021, so more gains to resistance(s) 1.3335, 1.3390 and maximum to Major Resistance (1.3460) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 53.
Take Profits:
TP1 @ 1.3335
TP2 @ 1.3390
TP3 @ 1.3460
TP4 @ 1.3675
TP5 @ 1.3785
TP6 @ 1.4035
TP7 @ 1.4635
TP8 Free
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USD SGD BUY (US DOLLAR - SINGAPORE DOLLAR)Hi there. Price is forming a reversal pattern to change its direction.
These are the fundamental reasons for a possible USD/SGD bullish scenario:
Sentiment shifts:
Bullish scenario:
A breakdown in US stimulus talks and a possible towards a government shutdown; FDA rejecting or postponing the approval of the Pfizer vaccine; a breakdown in Brexit talks with no deal by EU summit.
In this scenario we would expect to see downside in equities across the board, with US equities expected to fall more if we see US stimulus talks break down and more downside for EU equities if we see Brexit talks collapse and upside in the dollar across the board.
Strong equity sell offs are usually accompanied with some support for the US dollar as the world’s reserve currency and with its safe haven status as well as Japanese yen and Swiss franc .
💡Don't miss the great buy opportunity in USDSGDMidterm forecast:
While the price is above the support 1.3400, beginning of uptrend is expected.
We make sure when the resistance at 1.3885 breaks.
If the support at 1.3400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.3549 on 2020-09-01 and the trough at 1.3512 on 2020-10-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.3510 on 10/22/2020, so more gains to resistance(s) 1.3550, 1.3675, 1.3785 and maximum to Major Resistance (1.3885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 35.
Take Profits:
TP1 @ 1.3550
TP2 @ 1.3675
TP3 @ 1.3785
TP4 @ 1.3885
TP5 @ 1.4270
TP6 @ 1.4635
TP7 Free
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💡Don't miss the great buy opportunity in USDSGDMidterm forecast:
While the price is above the support 1.3400, beginning of uptrend is expected.
We make sure when the resistance at 1.3885 breaks.
If the support at 1.3400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.3549 on 2020-09-01 and the trough at 1.3512 on 2020-10-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.3510 on 10/22/2020, so more gains to resistance(s) 1.3550, 1.3675, 1.3785 and maximum to Major Resistance (1.3885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 35.
Take Profits:
TP1 @ 1.3550
TP2 @ 1.3675
TP3 @ 1.3785
TP4 @ 1.3885
TP5 @ 1.4270
TP6 @ 1.4635
TP7 Free
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. . . . . Please show your support back,
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USDSGD double bottom and go 🦐USDSGD on the daily chart bounced over a weekly support at 1.35400.
The price started then a new impulse and soon will test a minor resistance.
IF the price will break and close above the structure we will set a nice long order according to Plancton's strategy.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
USDSGD Buy setupEntry: 1.3531
Stoploss: 1.3526
Risk: 5 pips
Reward: 90-122pips minimum
Risk/Reward: 1:36
Supplementary information
3 possible buy entries,
2 aggressive entries for traders with high risk tolerance
My personal preference is to place a limit order @ the low (1.3531) to minimise risk
Comment: The setup becomes invalid if price breaks 1.36245
Don't miss the great buy opportunity in USDSGDMidterm forecast:
. While the price is above the support 1.3430, beginning of uptrend is expected.
. We make sure when the resistance at 1.3754 breaks.
. If the support at 1.3430 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
. The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
. A peak is formed in daily chart at 1.3985 on 06/22/2020, so more losses to support(s) 1.3550 and minimum to Major Support (1.3430) is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. Relative strength index (RSI) is 50.
Take Profits:
TP1= @1.3754
TP2= @1.3885
TP3= @1.4035
TP4= @1.4270
TP5= @1.4635
TP6 Free
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. . . . . Please show your support back,
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Don't miss the great buy opportunity in USDSGDMidterm forecast:
. While the price is above the support 1.3430, beginning of uptrend is expected.
. We make sure when the resistance at 1.3754 breaks.
. If the support at 1.3430 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
. The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased.
. A peak is formed in daily chart at 1.3985 on 06/22/2020, so more losses to support(s) 1.3550 and minimum to Major Support (1.3430) is expected.
. Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
. Relative strength index (RSI) is 50.
Take Profits:
TP1= @1.3754
TP2= @1.3885
TP3= @1.4035
TP4= @1.4270
TP5= @1.4635
TP6 Free
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
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Trade well, ❤️
ForecastCity English Support Team ❤️
Don't miss the great buy opportunity in USDSGDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.367). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDSGD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 44.
Take Profits:
TP1= @ 1.3786
TP2= @ 1.3916
TP3= @ 1.4087
TP4= @ 1.4260
TP5= @ 1.4547
SL= Break below S2
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. . . . . Please show your support back,
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ForecastCity English Support Team ❤️
Don't miss the great buy opportunity in USDSGDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.367). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDSGD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 44.
Take Profits:
TP1= @ 1.3786
TP2= @ 1.3916
TP3= @ 1.4087
TP4= @ 1.4260
TP5= @ 1.4547
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
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. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️