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Short

USD/SGD interim bulls offer best shorting odds for active bears

FX_IDC:USDSGD   U.S. Dollar / Singapore Dollar
46 0 0
Last two day’s bull swings could not sustain as it reaches trend line at 1.3657 levels.

Shooting Star at peaks has more downside potential; MACD signifies short term down trend to prolong.

In between, it is now likely to break one more support at 1.3579 levels, if it does then more weakness can be seen and bear swings may resume again.

Scepticism on Break out above support and its sustenance could take the swings either way.

Don’t expect any asset class to give steep spikes or declines forever, if it happens then that’s deemed as speculative moves one fine day tumbles massively. That is what has happened in USDSGD’s case from last two days.

The down-trend began from last four months has been drifting in a resembling falling wedge taking upper trend line as resistance and lower trend line as supports.

We’re quite sure you would be convinced after referring our previous write up on this pair, please refer below weblink for more readings:

http://www.econotimes.com/FxWirePro-USD-SGD-shooting-star-signals-more-speculative-dips-on-the-cards-%E2%80%93-12-call-ratio-spreads-best-suitable-154014

Hence, we could see the upswings from last two days can be utilized for the best entry levels for fresh shorts build ups for southward targets of 1.3525 or even upto 1.3420 levels with strict stop loss at 1.3635 levels.
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