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USDSGD

The US surpassed 10 million total cases of COVID-19The pair will break down from a major support line, sending the pair lower towards the 1.32000 resistance area. Asia’s coronavirus cases remain stable despite the resurgence of the deadly virus in Europe and North America. This week, the US surpassed 10 million total cases of COVID-19 while some countries in Europe implemented a second lockdown. Meanwhile, Singapore had only 1-digit daily infection cases throughout November making Asia, particularly Singapore, a good investment hub for businesses. Aside from this, the country is looking to build up its reserves and take advantage of the weak US dollar. USD reserves by Singapore in October jumped to $338.0 billion compared to the prior month’s $328.0 billion. This, in turn, will hedge the Singaporean dollar against economic uncertainties. In other news, US Chamber of Commerce CEO Thomas Donohue calls for the passing of the new stimulus bill before the inauguration of Biden.
Short
by Financebroker
💡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 ❤️ 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 ❤️
Long
by ForecastCity
13
USDSGD long trade ideaPlan: wait for the price to bounce off from demand zone --> 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
Long
by GWBFX
2
USDSGD (4H) Backtest : 62% Win rate (12 R), 85% non-losers!Detailed backtest results - prnt.sc - Win/Loss ratio : 400% - Non losers : 85% - Net R : 12 R across 13 trades - Avg R / winner = 1.5 - Avg R / trade = 0.92 Icons on the chart - Thumbs up : Trade was a win - Thumbs down : Trade was a loss - Circle with a cross : Trade was breakeven - Cross : Did not take the trade due to one or more trade qualifiers - Bug : I could not understand how to trade, so avoided trading Trade qualifiers - $ icon : DXY was either supporting the trade direction (and we took the trade as win/loss/BE), or DXY was not supporting the trade direction (and trade was not taken) - Dollar bill icon : Liquidity was present behind the stop loss How to read icons on chart? - Thumbs up + $ icon => Winner trade, direction was supported by DXY - Thumbs down + $ icon => Loser trade, direction was supported by DXY - Cross + $ icon => Trade skipped because DXY didn't support trade direction (though a liquidity hunt wasn't an issue) - Cross + $ icon + Dollar bill => Trade skipped because DXY didn't support trade direction & a potential liquidity hunt was due near the stop loss - Cross + Dollar bill => Trade skipped because a potential liquidity hunt was due near the stop loss (though DXY did support trade direction) Indicators at bottom of chart 1) Count of HH/LL for the pair - shows when market structure is broken => Also generates a signal on the main chart (highlighted vertical lines) 2) Count of HH/LL for DXY - shows how the pair is moving in correlation to DXY 3) Correlation of the pair with DXY - just to give an idea about how the correlation is moving Strategy Pickup a pair which is highly correlated to DXY AND Wait for market structure to break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to begin trapping the traders AND Liquidity in form of equal highs/lows should not be present behind the stop loss AND Since the pair is highly correlated to DXY , the formation of HH/LL in DXY should support the trade's direction at the time of zone's formation Risk management 1) Reduce 50% at 1R => Trade becomes risk free 2) Reduce further 25% at 2R AND move SL to break-even 3) Close trade at 3R 4) Winner = 1.75R Variables Avg winner = 1.75R PS1 : Please excuse the busy chart! PS2 : This backtest was performed right to left, so could include visibility bias. However, I tried to follow the strategy rules in all trades.
by makuchaku
2
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.
Long
by InkyGrip
2
USD/SGD - market takes a breath before going LONG!Like many of the USD pairs this week, USD/SGD has shown a lot of strength, from it's lows at the start of the week it has risen 236 PIPS. Price broke to the upside from a descending daily trend channel last week, and this week price has broken again to the upside from a falling wedge. Both good indications that we may be seeing the start of a trend shift. Due to the moves experienced this week it is only likely that the market will pullback to retest a level of support - namely the zone between 1.3730 to 1.3715. At this point will be looking for an entry to go long on this pair. From their take profit targets will be 1.3775 and 1.3856. If a lower high is formed below this zone, this analysis will become invalid.
Long
by TheForexFellows
2