This currency pair is in a downtrend for a few years, but now we see an opportunity to profit on the rise. We expect AUDSGD
to go up at least 100 pips, but maybe more. If you look at monthly/weekly timeframe, there is a strong support which withstood the pressure and now the market is going back up. AUDSGD
is currently creating a formation double bottom
(with small false-break) after we expect it to go to at least 0.985 and another profit target is 0.994. This bullish
setup is also supported with divergence. Overall, all currency pairs with Australian Dollar
, so Australian Dollar
should be strong in a next few weeks.