In this video update, we take a look at USDSGD and how it is trading between to key significant levels.
Price action suggests we are going to see further declines in this market and the 4hr chart is starting to move lower in line with the daily price action.
The minor resistance level highlighted in the video would be a likely area for the market to find ...
With the USD expected to fall we look to the USD crosses for short opportunities. We have already had one great trade on USDSGD last month and it has lined up again for another short opportunity.
The reason we expect USD to fall is due to the current downside of the US Government Bonds. The prices of the Bonds are falling and this can show a lack of investment in ...
All the Ichimoku signs on the daily TF are bearish. There is a strong rejection candle bouncing off the Kijun sen, which also aligns with the flat kumo bottom and previous support turned resistance. Price is currently sitting nicely within the tenkan-kijun zone, based off the 10 candle rule. The future kumo is dark and thin. Short entry is confirmed by %R.
Pullback to the 0.618 area and the trend line. Pullback to parallel channel support line. Parallel Channel Support Line now becomes Resistance Line.
USDSGD Currency Market will hit price target before December 27, 2018. Let me rephrase that statement. Target will LIKELY be achieved by December 27, 2018.
All the H4 and daily Ichimoku signs are bearish. On the daily TF, a bearish kumo twist has just occured. On the H4 TF, price has pulled back to the kijun sen, which also happens to be the previous support turned resistance. If the current candle were to remain as it is, we would get a bearish fractal. We are currently having an inside bar formation and %R confirms ...
Confluences for Trade:
- Stochastic has yet to move into Oversold conditions
- Breaking Support Trendline (since April 2018)
- Fundamentally, with positivity the outcome from the temporary truce between Trump-Xi and a more dovish FED reduces the drag on global demand and is positive for the Asian region. The SGD is a ...