USD/SGD: DAILY PRICE ACTION + HARMONIC GARTLEY 🔔Welcome back Traders, Investors and Community!
Analysis of #USDSGD
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Strategy: We can see a Flag pattern + Bearish Gartley Pattern - We will be waiting for all the confirmations to enter in this trade.
A clear chart is Always the best business card for a trader.
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The information contained herein is not intended to be a source of advice or credit analysis
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Walter
USDSGD
USDSGD Trade Set UpThis pair has been trending down since march 2020. I expect a total reversal now or a higher degree corrective structure. If it breaks the rejection zone then I expect a bull run. It can still take off after it takes its previous low. As the pattern develops i will keep this idea updated, so like, comment, follow so you don't miss any update. Thank you.
Analysis off resistance rejectionLooking for a pivot at marked resistance for a sell. These levels are 1.33400 and 1.33800.
Look for a clear pivot off these levels for a sell entry. Currently MACD and Signal are above zero lines with potential cross through high volume Histogram bins telling us a retest is in play.
A pivot off one of these rejections will initiate a macd/signal down cross to proceed towards 0 line.
This is a strict analysis. Please comment with thoughts and ideas. Thank you.
USDSGD: BUYDuring 2020 the Singapore dollar strengthened against the US dollar from 1.3453 to 1.3211. The Singapore dollar’s modest appreciation despite the sharp decline in the dollar in 2020 reflected the impact of MAS’ neutral SGD NEER policy set in response to the COVID-19 shock. This neutral policy will set the tone for USDSGD trading for the entire year of 2021, setting constraints for Singapore dollar gains despite extended dollar weakness and potential improvements in current account surpluses. Further monetary easing is unlikely this year as fiscal policy is doing the heavy lifting.
Taking a look at our Trade Plan this week on USDSGD, we see a great spot for Bulls to enter now right around 1.32499 and expect areas of TP to be at 1.33667 . This is not a usual pair we trade, however, when there's opportunity clearly seen, we must take them.
If you enjoy our analyses, please do comment and let us know how we're doing.
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.
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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.
💡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
❤️ 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!
❤️ 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 ❤️
Information that Singapore Traders needHey, USDSGD is a pair that I don't usually trade but observe occasionally at it is a counter that aids the decision of my withdrawals.
If you are looking to withdraw the level at 1.2997-1.3107 candle close on the monthly chart is quite important, that level needs to hold if not a potential of it to fall to 1.2762 is possible.
Traders like myself will have to observe closely at 1.3442 and I'm expecting it to happy by 31May2021.
USDSGD uptrend setupprice direction: UPTREND
potential target price: 1.3363
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
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 .
USDSGD long trade ideaPlan: resistance level breakout --> wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
USDSGD long trade ideaPlan: wait for the price to bounce off from support level --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
_____________________________________________________________________________________________________________________
Thank you for your support ;)
GWBFX
Our watchlist for tomorrowTomorrow marks the end of a beautiful trading week!
Our watchlist is complied of 6 assets with a few already exacted trades. They are
USDCHF BUY
EURUSD SELL
GBPNZD BUY
USDSGD BUY
XLMUSD BUY
XRPUSD BUY
This does not mean in any way that we will be buying all the way or anything else like this.