Secondly, maybe not the most to most shoppers are exchange rate, especially if it is a one-off purchase.
Being a trader and investor, I guess this is some kind of occupational hazard.
Chart tells me it is likely to fall further to 1.344 but at current rate, it is much better compared to March this year when it was at a high of 1.465.
Buying a product at US$100 would require me to part SGD 134 compared to SGD146 , a savings of SGD12. So, if you can wait, consolidate your shopping list and as time passes, nearer to the festive season, the merchants might dangle more carrots for you.
So that is best of both world, haha.
Will I short now ? No, the RRR is not worth it and the chance of rebounding is higher now....
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it has broken down the level of support at 1.3565 and looks set to revisit 1.34462.
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it breaks out but the past 3 days of sell down could mean a possible fake breakout. Let's see closing candles before deciding the next course of action
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Praise Lord, it was proven right! Now the price is sitting on the 1.34462 support level. Let's wait for a bullish move or for the price to break out of the triangle first
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watch the current price level closely . If it does not hold, it will break down and falls to 1.33089
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wow, the lowest it goes to was 1.32450 and it rebounded