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kailevel

Short USDSGD on Weekly .382 Retracement

Short
U.S. Dollar / Singapore Dollar (OANDA:USDSGD)  
kailevel Updated   
OANDA:USDSGD   U.S. Dollar / Singapore Dollar
Trend Analysis Chart Patterns Fundamental Analysis usdsgdshort
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trendanalysis chartpattern fundamental usdsgdshort
The weekly chart of the USDSGD shows clearly the weakness of the USD against the SGD. This weakness has been building for a while now. The fact that it has retraced just below the .382 level indicates a long term weakness in USD despite Fed Rate hikes. For Singapore which has an export based economy, this is significant as it makes the country less competitive. However, it does help to combat inflation. Perhaps funds inflows from wealthy individuals elsewhere in the world would help in SGD strength.
Comment:
So I am wrong about this. Good to have a record.
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