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AUDSGD

Aussie sinks against the Singapore dollar againThe Australian dollar initially tried to rally on Monday but continues to sink against the Singapore dollar. This is essentially a “risk off” trade, as the Singapore dollar is basically the “Swiss franc of Asia.” With that being the case, this shows that risk appetite is struggling, at least when it comes to all things Asian. That’s not a huge surprise, considering that the US/China trade war is starting to put up horrific economic figures in mainland China itself. Now that we have broken through what could have been the bottom of a falling wedge, we now find ourselves below the 0.94 handle. That is a bearish sign, especially considering that the 61.8% Fibonacci retracement level is just above current trading as well. Now that we have broken through it, it’s very likely that we could wipe out the entirety of the move, or at least make a significant turn towards more bearishness. At this point, it’s obvious that rallies will continue to be selling opportunities, as the 0.95 level should be thought of as a significant barrier, one that probably will be broken anytime soon. If we were to break above the 0.95 level, at that point the trend would change. However, at this point it looks very unlikely that rallies will offer anything but selling opportunities. The Australian dollar will continue to suffer as long as the US/China trade wars continue, and therefore this downward trend should continue. Money flows away from commodities and into fixed income and stability of banking services such as we see in Singapore. This trade continues to work, and therefore signs of exhaustion continue to be opportunities for entries into what has been extraordinarily reliable trend. At this point, there’s no sign of a rebound but if we see the US and China come to terms, this pair will shoot straight back up in the air.
Short
by Forex4you
AUDSGD - Aussie is going to tank to 70c SGDThe big trade everyone is talking about at the moment is the AUDCAD but I think this could be a nice little winner. I love finding odd inflection points which to hang my trend lines off because when they’re right you can predict things out by years. So using the same method to draw a trend line that my poorly drawn red circles give me, the pink ones paint a gruesome picture. If the current green trend line holds and the price cant keep above it expect the AUD to collapse against the SGD. The failure of the 20 to cross the 50 backs this up, plus to woeful state of the Aussie economy backs this up on the macro side. If you couldn’t guess the yellow circle is my target.
Short
by MadButcherWA
AUDSGD short swing trade setupAUDSGD short swing trade setup 1H based on strong bearish volume and downtrend on higher time frames. Short entry on this pullback if volume increases on 1H. IMPORTANT: Trading any financial instrument carries a high element of risk where financial loss can be significant. This analysis is not to be construed as financial advice and we highly recommend using the information for 'practice trading' a demo account only where there is zero risk. Even though a chart gives us a probability case for price movement, the market can go against us at any time and often does. For this reason, risk management strategies to preserve capital is high priority.
Short
by tradingwithanthony
AUDSGD: Strong Support Level @ 2016 lowsAUDSGD Timeframe: H4 Direction: Long Confluences for Trade: - Price action at a Trendline Support - Stochastic Oversold momentum - Widening of EMA - Price action is close to 2016 lows, could be a strong support at such levels Suggested Trade: Entry @ Area of Interest 0.9675 - 0.9735 SL: 0.9619 TP: 0.9886 RR: Approx. 2.30 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Long
by weekendanalyst
AUDSGD (1D): Double 'Double Bottoms'?AUDSGD Timeframe: 1D Direction: Long Confluences for Trade: - Bearish candle formation (Pin bar formation) - Slowing in weakening momentum - A rough Elliot Wave count should have current price levels completed a Wave 3 and may head upwards to do a Wave 4. - Double bottom formed recently - A second double bottom may form, look out for it's formation at 0.9720 (Previous bottom for this formed in 2016) Suggested Trade: Entry @ Area of Interest 0.9660 - 0.9720 SL: 0.9660 TP: 1.0160 RR: Approx. 2.33 (Depending on Entry Level) May the pips move in our favor! Good luck! :D *This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Long
by weekendanalyst
AUD/SGD 1H Chart: Strong support foundUpside risks dominated the AUD/SGD currency pair, thus sending the Australian Dollar 0.92% higher against the Singapore Dollar. This gradual increase in price began at the beginning of October when the rate reversed from the bottom boundary of falling wedge. If looking at the pair's current movement, it has breached the 55-, 100– and 200-hour SMAs on the 1H time frame. Thus, it is expected that these lines help to support the rate, thus leading to further advance. However, technical indicators for the 1D and 1W suggest that bearish momentum might occur soon. It is unlikely that the pair falls below the monthly S1 at 0.9971.
by UnknownUnicorn890690