USDSGD: Good chance to go long
I reccomend going long USDSGD, both with a 3 times the daily ATR stop loss, as well as a tighter stop below 1.3506.
There seems to be evidence of a bottom forming here, and we can expect a sharp rally to fire soon, and resume the long term uptrend in this pair.
Fundamentals favor a turn, or at least a mejor retracement and a sideways market.
"The Singapore economy is projected to expand at a more modest pace in 2016 than envisaged in the October policy review. (...)
MAS will therefore set the rate of appreciation of the S$NEER policy band at zero percent, beginning 14 April 2016. This is not a policy to depreciate the domestic currency, and only removes the modest and gradual appreciation path of the S$NEER policy band that was in place." - from the MAS' minutes.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
There seems to be evidence of a bottom forming here, and we can expect a sharp rally to fire soon, and resume the long term uptrend in this pair.
Fundamentals favor a turn, or at least a mejor retracement and a sideways market.
"The Singapore economy is projected to expand at a more modest pace in 2016 than envisaged in the October policy review. (...)
MAS will therefore set the rate of appreciation of the S$NEER policy band at zero percent, beginning 14 April 2016. This is not a policy to depreciate the domestic currency, and only removes the modest and gradual appreciation path of the S$NEER policy band that was in place." - from the MAS' minutes.
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers,
Ivan Labrie.
Trade active:
Looks good.
Comment:
Quite a steep retracement, if it doesn't progress, we could add to the longs.
Trade closed manually:
I closed yesterday, seems like one more leg down in oil correlated pairs.
Trade active:
Finally safe to go long again. You can use a stop 1/3 this size too.
