TRADE DEALM PHASE ONE SIGNING SOON US-IRAN TENSION SETTLING DOWN 38.2% FIB
Head and Shoulder on H1 chart SGD is also strong on low inflation report and market risk on sentiment
hitting resistance, waiting for fundamental confirmation and shift to a risk off sentiment
shorting to hedge against any negative trade news during US-China trade talks. it aligns with the technicals as well
a slight pull back after hitting its major resistance. fundamental shift away from a risk- on sentiment
hitting major resistance. waiting for a confirmation and alignment with fundamentals.
monetary authority of Singapore is known for allowing SGD to float somewhat freely in the Forex market with a low possibility of direct currency intervention. JPY is appreciating due to a shift towards a risk-off sentiment among traders.