Hello everyone. It's been almost 11 months since I posted the idea titled 'Bearish view on SGDCNH(potential low 4.63)'. You can refer to the linked idea below.
Yep, I'm right about the direction and move. SGDCNH fell sharply by move then 2000bps since I published the idea. I can see the downtrend line is still well respected. Price seems to be consolidated for a while before making the decision. By measuring the move, the big fall has come to an end. SGDCNH is likely to rebound, however I need to see the confirmation on the chart.
As the inflation is going up, I don't think SG government will let the SGD depreciate further. The weakening SGD will hurt the purchasing power of the folks there.