Red Rectangle: Resistance
Blue Rectangle: Support
Yellow/Orange: Bear/Bull Activity
What I see on this pair is possible support near this level since before there was a bullish spike; just look left.
We are viewing the start of this month ONLY to test our theory. This is not a trade signal and is for educational purposes only.
Pattern: Channel Up on 1D.
Signal: Bullish as the price broke the 4H Resistance and is replicating the Sep - Nov 2018 fractal.
Target: 0.9350 (1D Resistance). Risk seekers can extend to 0.9500 (1W Resistance) if they see bullish bias on the break out.
Wait for the rate meeting on Wednesday.
I posted the Daily so you could see the setup forming with better clarity
Use the 6H CHart to create crossover alert on the Slow Oscillator.
This should give you the best entry - or based on the outcome of the meeting Wednesday
. There is a possibility of temporary retracement to suggested support line (0.9030). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. NZDSGD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
An old friend was asking about the NZD vs the SGD
I see support at the 0.8900 levels (for every 1 New Zealand Dollar, you need 0.89 Singapore Dollars)
We are currently at 0.8970, close to the support zone.