FX_IDC:AUDSGD   AUSTRALIAN DOLLAR / SINGAPORE DOLLAR
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1
AUDSGD channel. almost similar to AUDUSD . main trend is still downwards. wait for H4 bearish pin bar /rejection pattern at 1.085 to enter sell.
note. price may not retrace to that level and may just close below the channel today. however better risk reward is at 1.0850.
IF D1 manages to close above 1.0850 today. a short term upbreak to 1.11 could happen. I do not wish for that to happen.
Do not by any means attempt to go long, although it may look like a reversal if closed above 1.0850.

Comments


Price broke below the lower channel.
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IMO it will not retrace to 1.085 as AUDUSD has already broke below the lower channel.
Thus, we could use AUDUSD as a confluence that AUDSGD is breaking through the lower channel. However, risk reward is low.
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