USDSGD
USDSGD: Buy opportunity on 1D.The pair is trading inside a 1D Channel Up (RSI = 65.836, MACD = 0.002, Highs/Lows = 0.0038). After breaking through the 1.36150 Resistance, which is now essentially its support, it should aim for the next sell accumulation point a 1.37450. We are long to that point.
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USDSGD will re-test the resistance level or Bullish all the wayUSDSGD currently is making a bullish compression, yesterday the price had a rejection and we anticipated that today may have a small retracement to the dotted line as to create another Higher Low (HL).
If we look to the left, the previous Support now has become a Resistance, a pretty solid Resistance; it created "The Wall" and had managed to hold the prices to advance further (see R1, R2, R3).
What we are seeing now, the prices are creating a momentum (by producing a tight compression); direct frontal attacks had failed three times, now it will be an accumulation of massive attack to "The Wall". I marked the level 1.36155 as the decision level either the price will advance further to the North or will be rejected again.
When the price is reaching "The Wall" what we need to observe is a Price Action, in my opinion, likely "The Wall" will be breached either using a Dragon or Massive foot-troops crossing the decision level.
What if you miss the opportunity to LONG? the market is always forgiving, when "The Wall" is breached, put your Pending BUY Order at 1.36155
Let the war begins!
USDSGD broke Trend Line, Probably Continues Range TradingUSDSGD broke its long-term trendline during Thursday trading, but moved below this line during Friday trading in spite of the fact that oscillators are pointing towards a bit of an upward turnaround. RSI signals a neutral reading while the stochastic oscillator suggests USDSGD could make a leg up higher. Clearly, a floor appears to be around 1.3446 and 1.3453 with two reversals from this level. A linear regression from September 2018 suggests this will happen on average by May, but the upper 95 percent confidence interval tells us it could be much later if this is a floor. Either way, sideways trading within a range of 1.3616 and 1.3446 is the most likely scenario in the short-term.
USDSGD: Medium term opportunity. Sell and Buy zones.The pair has been trading sideways in 2019 within the 1.36140 Resistance and 1.34450 Support. With 1D neutral (RSI = 51.626, Williams = -49.207, CCI = -45.7804, Highs/Lows = 0.0000), the price is expected to continue consolidating on the medium term within those levels. We are using 1.35750 - 1.36140 as a Sell Zone and 1.34450 - 1.34900 as a Buy Zone.
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Analysis on USDSGD 2019At this moment on USDSGD Daily Chart USDSGD is moving on a sideways market movement and it ranges between 1.3456-1.3609. USDSGD has been ranging for the past 3-months a break of the market movement is certain.
There are 2 possibilities of its movement, an appreciation of USDSGD is more likely the and continuation of a bearish move.
If the market break and close above 1.3609, is a likelihood for it to move towards 1.3825 and a break of that moving towards 1.4048 is seen.
The analysis is only for reference purposes and it shouldn't be used for any investment or trading purposes.
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.
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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.
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USDSGD technical analysisThe 4 hour timeframe of the USD SGD is investigated in this analysis covering over 3 months of price action from December 27, 2018 to current date.
A symmetrical triangle is used to describe market action, specifically from January 24 2019 onwards. The implication of the chart pattern above is a stalemate between USD SGD bulls and bears, with eventual price resolution anticipated as either up, down or even sideways.
1.36143 to 1.34316 marks the width of the symmetrical triangle that can be projected onto breakout price level upon confirmation and/or resolution of price action out of the chart pattern, bullish or bearish.