We have identified USD/SGD as a long trade potential with significant upside potential. On the above you can clearly see this pair is in an uptrend. We traded it earlier this month after a bounce off the 23.6% Fibonacci level. Further research will show USD/SGD is preparing to make a multi-year high if it can take out the 1.32539 level.
The Global Currency Scalper will be buyers of USD/SGD if prices can take out 1.32700 and will be targeting the figure of 1.33000, then 1.33450 and eventually the 1.34470 level stated above. We suggest taking profits at any level on the way up, all price action and fundamentals are indicating these levels can be reached. We will be placing our stop at 1.31800, if this level is breached before a position can be initiated then the Global Currency Scalper will change its view on this pair to neutral.