eur sgd shortlike to short this pair after leaving the zone again...i prefer a TL touch before..
TL is from daily TF
Sgd
SGDCHF Rising Wedge TL BounceBefore I begin I would like to thank anyone who provides feedback.
Observing the D and 4h timeframes of SGD/CHF, there is a rising wedge taking place and we are currently testing the lower TL. The price also just tested the .618 fib level (.7150).
We just broke a key price area of .718 and this can act as a resistance point . If this hits resistance and the wedge is broken, then a very nice short opportunity will form.
The next area of significant resistance past the price of .718 is the .382 fib (.7225) that has played a reversal area in the past weeks. We can see a retracement back to .718 that will act as support.
The first TP area is where a lower high would form that is right on the .236 fib (.7271)
The second TP area is the top of the rising wedge TL (.7320).
I have placed the stop below the .786 fib (.7097) as this will invalidate the continuation of the wedge.
Thank you, feedback welcomed!
USDCHF BEARISH ABCDA channel formation can be seen on the 1D chart.
Price has bounced off the upper channel, moved downwards and is now retracing back up
Entered 1/2 position the 0.618 RETRACEMENT OF XA, set a limit order for 1/2 position at the 0.786 RETRACEMENT OF XA
Fib level coincide with structure levels and RSI divergence has occurred! Perfect example of my ideal entry! Excited to see how this trade plays out!
nice top here, about to do a quick moveTarget 1.32, channel support.
All evidence points to a huge dollar tank ahead.
Gold:
EURUSD:
Long AUDSGD after MAS easing policy and AUD employment dataBetter than expected employment data from Australia this week boosted the AUD against most currencies. Due to the previously weak USD, AUDUSD had already moved into a bullish sentiment zone, and this weeks data adds to that conviction. We note however a potential trade setup for AUDSGD as the good Aussie data accompanied by the easing move by MAS allowed the pair to break above the 1.04 handle, to turn the current sentiment from a neutral sideways market to a bullish break out.
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USDSGD Long (Macro Risk Off + Bullish Wedge Breakout)Investors flee the riskier Singaporean Dollar for the "safer" United States Dollar.
Ringgit is still pricing for further decline This level held pretty well in a triangle since I last posted about SGDRMY, it does look like we are about to see a much higher SGDRMY rates at a projected range of 3.25 - 3.29 .
Fed policy may drive the Dollar @1.41588With the next fed policy coming along, it seems as if the Dollar will gain momentum once again particularly with this pair as investors may find the USD attractive after the next meetings announcements.
The Histogram shows bulls rebuilding strength is it breaks out of the R/Trend very soon.
As for the chart, a HS Pattern upon completion with the daily trend AND Aug Resistance acting as consolidation. If the price manages to break beyond these points then I am guessing that we're going to be up for a hell of a ride towards October highs @1.43587 (201 pips) to then briefly correct near November highs then continue its surge and even push further than October highs.
Stop Loss centered within Left Shoulder which is also below short term support @1.40929 (66 pips)
This was made through research and insights gathered.
Let me know what anyone thinks, I believe we're really onto something here!
Regards
More easing measures soonIt is expected that the Singapore general election should be held within this year, coincide with the 50th anniversary and the death of the former Prime Minister Lee Kuan Yew recently.
On one hand, in order to get sympathy votes from people and also a weakening economy globally. It won't help the ruling party if the election were to be held in a period of recession.
I am expecting a potential double top and sideways movement until the general election, which we'll then see massive easing measures to boost exports.
"Singapore June Factory Output Falls 4.4% Y/y; Est. 0.4% Drop"
A target of 1.5579 in the near term shouldn't be of any surprise, if the FED were to target a rate hike of at least 1% aggressively over the next year as said from the 'leaked' document.
www.zerohedge.com
USD/SGD LONGLONG TERM POSITION. DOLLAR GAINING STRENGTH ACROSS THE BOARD. DAILY CLOSE ABOVE KEY RESISTANCE AT THE MOST RECENT LOWER HIGH FROM THE DOWNTREND. WE ALSO MADE A HIGHER LOW RECENTLY AND HAD OR LONG TERM MA'S CROSS. LOOKING FOR A SLIGHT RETEST AND ENTRY.
TARGET 1 = 1.3765
TARGET 2 = 1.3910
USDSGD - 1 MONTH - SELL AND BUY SIGNALSIt is necessary to wait for breaking one of these lines SELL OR BUY LINE. And then enter the market
USD/SGD - High-Probability Bullish Continuation USD/SGD Confluence:
1. 50/60 - 200/250 EMA Crossover in January 2015 indicated a major transition in market sentiment.
2. Measuring the entire symmetrical triangle breakout leg from Summer 2014 to the highs at 1.39 which marked the end of the Quarter 1 of 2015, we can see the .5 - .618 Fibonacci retracement lies at 1.32- 1.30
3. 1.32 was the peak of the symmetrical triangle providing significant resistance. Look for this area to now act as a new major support level.
4. A re-test of the 1.32-1.30 zone would also coincide with a retest of the 50/60 EMA's as new dynamic support for the first time since 2002.
5. The ten year weekly trend-line was broken during the symmetrical triangle breakout, this eliminates any chance of this trend-line providing bearish resistance.
6. As the USDOLLAR Index starts a bearish leg down following the weekly double-top pattern, this provides us additional confluence for USD/SGD continuing its bearish leg down to 1.32.
7. Any price action signal that occurs in the high-probability zone of 1.32-1.30 will be the catalyst for me to take a long trade in this market targeting the highs at 1.39
