USDSGD Strong bullish signal above the 1D MA200

FX_IDC:USDSGD   U.S. Dollar / Singapore Dollar
It's been again a long time since we traded the USDSGD pair (October 03 2023, see chart below) but it did manage to give us a low risk sell opportunity:

The price hit today the 1D MA200 (orange trend-line) for the first time in exactly 2 months (since November 17). That is a major pressure level as it is also exactly where Resistance 1 (1.34550) is. The long-term pattern is a Channel Up and technically this is the 3rd Bullish Leg. The previous two rose by more than +4.00% but the 2nd made a temporary pause at +3.44%.

That is our 1D MA200 break-out target and it interestingly falls almost exactly on Resistance 2. We are targeting 1.36100 but if the 1D MACD forms a Bearish Cross earlier, we will the the profit on that market price.


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