informedtrades
Long

USDSGD Falls to Bottom of Channel

FX:USDSGD   None
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USDSGD falls to the bottom of a price channel , which is also a horizontal support level and the 50% Fibonacci retracement from the swing low to swing high. We are also seeing considerable USD strength across the board. As such, I'm long at 30936, with my stop at 30665 and my target profit at the recent swing high at 32390. This needs a pullback of about 40 pips at the time of this writing to get filled; 40 pips is quite a bit for the relatively tight trading USDSGD , so this order might not get filled.

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