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EURSGD trade ideas

EUR/SGD:TECHNICAL AND FUNDAMENTAL ANALYSIS - SHORT 🔔Singapore Industrial Production for April increase by 1.0% monthly and 2.1% annualized. Economists predicted an increase of 0.5% and 3.4%. Forex traders can compare this to Singapore Industrial Production for March, which decreased 1.7% monthly and increased 7.6% annualized. The Final German GDP for the first quarter is predicted to decrease by 1.7% quarterly and 3.3% annualized. Forex traders can compare this to the German GDP for the fourth quarter, which increased 0.3% quarterly, and which decreased 3.3% annualized. The German IFO Business Climate Index for May is predicted at 98.2. Forex traders can compare this to the German IFO Business Climate Index for April, reported at 96.8. The German IFO Current Assessment Index for May is predicted at 95.5. Forex traders can compare this to the German IFO Current Assessment Index for April, reported at 94.1. The German IFO Expectations Index for May is predicted at 101.4. Forex traders can compare this to the German IFO Expectations Index for April, reported at 99.5. The forecast for the EUR/SGD turned bearish after stalling at resistance.
Short
by FOREXN1
17
EurSgd LongThe case is evident from the chart. Similar to my EurUSD chart, we are in the middle of the wave 3, of the wave 5, of the greater trend. My reasoning behind this is stated below: 1: A very clear extended third wave can be seen. All of the rules and guidelines for an impulse wave have been followed. 2 does not retrace beyond the start of 1 3 is not the shortest wave 1,3 and 5 are not all extended. 4 does not move into the price territory of wave 1. We see a deep and long wave 2, and an alternating wave 4 that is short and shallow. The target for the wave 5 is the 3.414 -3.618 fib extension of the primary wave 1. Using the mika.k time technique I anticipate this will happen sometime on april 14th, from 11-21:00. My concerns with the time technique for this chart, is that the wave 4 of the primary trend has been very hard to identify. I will only know if my wave 4 termination is correct depending on the termination of the wave 5. If the wave 5 moves to my target within the time I predict, it confirms that my wave 4 was accurate. My other concerns with this chart, is that the wave 5 doesn't end up moving to the 3.618 extension of wave 1, but instead stops at around 1.60595. This would happen in a situation where the bullish momentum isn't as great as I forecast it to be. If the bullish momentum for wave 5 dies down, we can see it going towards the 1.60657 target, but if the momentum continues further, I believe a 3.414 -3.618 target from the primary wave 1 is possible. My final concern is that the wave 4 I have outlined isn't as picture perfect as I would like it to be. It doesn't show a clear corrective form. I assume that this isn't that bad, since it could imply that there is a lot of bullish momentum.
Long
by Mika_k
EURSGD will it break below? 🦐EURSGD after the last impulse until the 1.61500 got rejected and sharply moved back to the support area. IF the market will break below, according to Plancton' 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.
Short
by InkyGrip
6
EURSGD will break the range 🦐EURSGD on the 4h chart after a double bottom over the weekly support, started a range move between 2 structures. According to Plancton's strategy, if the price will break above, we can set a nice long 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.
Long
by InkyGrip
8