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Usd-sgd

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.
by UnknownUnicorn890690
USD/SGD 1H Chart: Bullish momentumThe US Dollar has been appreciating against the Singapore Dollar since the beginning of 2018. This movement is bounded by a rising wedge. Considering technical indicators flash bullish signals on the 4H and 1D time-frames, it is very likely the pair upside momentum starts prevailing within the nearest time. The most probable upside target during the following week is the upper boundary of given wedge near 1.3860. Important resistance cluster to look out for is formed by the weekly and the monthly R1 near 1.3840. It is the unlikely case that some bearish pressure still prevails in the market, the US Dollar should not exceed the support level formed by the weekly S1 and the monthly PP at 1.3718.
by UnknownUnicorn890690
USD/SGD 1H Chart: Pair reaches new one-year highThe US Dollar has gained 3.30% against the Singapore Dollar during the past few weeks. This strong appreciation allowed the pair to reach a new one-year high and provide another confirmation of the upper channel line at 1.3727 early in July. By mid-Thursday, the Greenback had returned to re-test this high and subsequently breached it to test the 1.3740 mark. Technical indicators remain bullish for the following week, suggesting that a test of the senior channel near 1.39 may follow during this time. The weekly R3 is located nearby at 1.3875. This bullish momentum could be preceded by a slight correction south down to the 55– and 100-period (4H) SMAs located in the 1.3650 area.
by UnknownUnicorn890690
USD/SGD 4H Chart: Rate tests strong resistanceThe US Dollar has been trading in an ascending channel against the Singapore Dollar. This pattern began early in January and has since guided the pair towards a new 2018 high of 1.3480. The pair also breached the previous long-term pattern at the beginning of May. During the past three weeks, the US Dollar has been moving sideways, fluctuating between the aforementioned yearly high and the 1.33 level. The pair is still located in the given range. It has, however, fallen below the 100– and 200-period SMAs which is a bearish signal. Technical indicators on the daily chart are likewise tended southwards. Taking this into account, it is expected that the Greenback weakens during the following weeks, setting the monthly S1 at 1.3255 as a possible weekly target.
by UnknownUnicorn890690
USD/SGD 4H Chart: Pair looses upside momentumFollowing a one-month period of consolidation from February to April, the USD/SGD exchange rate gathered momentum mid-April and shot up until 1.35 where it was located at the time of this analysis. If looking in the shorter term, the US Dollar failed to form a wave up last week. Thus, it seems that the previous bullish momentum has allayed which may point to a soon breakout south. In order to confirm this scenario, the Greenback has to breach the 55– and 100-hour SMS, the 23.60% Fibonacci retracement line and the weekly R1 near 1.3370. It is possible that the rate still finds some support by the aforementioned SMAs which might lead the pair towards the weekly R3 and the 38.20% Fibo during the nearest sessions. By and large, the bearish sentiment should eventually take over the market and allow for a medium-term decline.
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
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 sonicrmastery
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
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