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AUDSGD

AUDSGD bounced from support, potential for a further rise! AUDSGD bounced off 0.93027 where it could potentially rise further to 0.93964. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone
There is a possibility for the beginning of an uptrend in AUDSGDMidterm forecast: While the price is above the support 0.9105, beginning of uptrend is expected. We make sure when the resistance at 0.9520 breaks. If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A trough is formed in daily chart at 0.9270 on 10/24/2019, so more gains to resistance(s) 0.9400, 0.9455 and maximum to Major Resistance (0.9520) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 54. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.93200 to 0.92700). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.93200) Ending of entry zone (0.92700) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 0.94000 TP2= @ 0.94550 TP3= @ 0.95200 TP4= @ 0.95950 TP5= @ 0.97250 TP6= @ 0.98300 TP7= @ 1.00900 TP8= @ 1.02250 TP9= Free
Long
by ForecastCity
6
There is a possibility for the beginning of an uptrend in AUDSGDMidterm forecast: While the price is above the support 0.9105, beginning of uptrend is expected. We make sure when the resistance at 0.9520 breaks. If the support at 0.9105 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: A trough is formed in daily chart at 0.9270 on 10/24/2019, so more gains to resistance(s) 0.9400, 0.9455 and maximum to Major Resistance (0.9520) is expected. Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses. Relative strength index (RSI) is 54. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (0.93200 to 0.92700). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (0.93200) Ending of entry zone (0.92700) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons : Take Profits: TP1= @ 0.94000 TP2= @ 0.94550 TP3= @ 0.95200 TP4= @ 0.95950 TP5= @ 0.97250 TP6= @ 0.98300 TP7= @ 1.00900 TP8= @ 1.02250 TP9= Free
Long
by ForecastCity
4
Trading on divergence signalsEDUCATIONAL PURPOSES: There are several indicators that one can employ during the course of analysis. One common indicator will be the Relative Strength Index. What can you draw from this indicator? Overbought and Oversold signals! However, one can also use this indicator to spot divergences in the price and the relative strength! Above are 3 examples of RSI divergences: AUDCAD, AUDSGD and GBPAUD. The main idea is to look out for differing directions between the price and the RSI within the same period. As we can see from AUDCAD and AUDSGD, price was creating lower lows while RSI was creating higher lows. This is an example of a BULLISH RSI DIVERGENCE, and price will soon start correcting. In the case of GBPAUD, another higher high on the price carves out a lower high on the RSI. This shows that there is a BEARISH RSI DIVERGENCE, and price will soon start correcting. Spotting divergences helps with timing of trade entries (whether it is too late or too early), exiting of positions and/or adding more positions. You can also use this as a trigger for a trade (i.e. a Long trade in AUDCAD, or a Short trade in GBPAUD). The time frame that you use to spot divergences will affect how long you have to wait for price to start correcting (i.e. shorter time for H1 as compared to Daily). **One important point to note when spotting or trading on divergences: Observe for price action in line with your bias (bullish price action for bullish RSI divergence, vice versa). RSI divergences can fail should it carve a higher high or lower low that is in line with price.
Education
by TraderMozo
10
Aussie dollar continuing to find resistance against Singapore doThe Australian dollar initially tried to rally during the day on Friday but continues to run into a lot of pressure against the Singapore dollar. This is a proxy for risk in Asia, so it makes quite a bit of sense that we will roll over from here as there are a lot of concerns when it comes to economic growth in Asia as the US/China trade situation continues to cause major ripple effects around the world. Looking at the chart, you can see the 50 day EMA is just above, and we have formed several wicks just above the 0.95 handle. It’s very likely that we could go down here and reach towards the 0.9250 level. Ultimately, it’s going to be more of a grind but I can also make an argument that if we were to break above the 0.9440 level, then it would show an attempt to break above the 50 day EMA. A move above there has the market looking towards the 0.95 handle. Simply put, this is a great proxy for risk appetite, so I think that you should pay attention to stock markets. If stock markets start to roll over in a bit of a “risk off” move, that should put downward pressure on this pair and send it much lower. After all, we are in a downtrend anyways so it makes quite a bit of sense that we will more than likely see that move. It’s going to be a grind, but it makes more sense that we go down than up. This pair doesn’t move very quickly so you need to be patient to wait for your profits to appear. Sudden moves aren’t typical with this pair, so keep that in mind if you are putting money to work.
Short
by Forex4you