Short USD/SGD as it approaches supply zone
When price retrace back to the supply zone area of 1.3657, we foresee reactions at this zone; strong sellers which previously initiated the prior downtrend will be likely to defend their positions aggressively at this region.
This region is also a strong support turned resistance area as highlighted by the blue box.
It is worth to note that along with EURUSD, USDSGD will show the direction of USD in months to come. It seems that USD will be bearish in 2019, which implies that the stock markets, especially emerging markets, will be bullish in 2019. High probability scenario.
Our trade setup will be:
EP:1.3657
SL: 1.37
TP: 1.3594
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
When price retrace back to the supply zone area of 1.3657, we foresee reactions at this zone; strong sellers which previously initiated the prior downtrend will be likely to defend their positions aggressively at this region.
This region is also a strong support turned resistance area as highlighted by the blue box.
It is worth to note that along with EURUSD, USDSGD will show the direction of USD in months to come. It seems that USD will be bearish in 2019, which implies that the stock markets, especially emerging markets, will be bullish in 2019. High probability scenario.
Our trade setup will be:
EP:1.3657
SL: 1.37
TP: 1.3594
Good luck in your trading journey!
Best Regards,
NourCapital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Order cancelled
Another trading idea but triggered base on our entry price before market start to decline and hit out projected TP. Cancel the trade.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.