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USDSGD

USD/SGD 4H Chart: Pair looses upside momentumFollowing a one-month period of consolidation from February to April, the USD/SGD exchange rate gathered momentum mid-April and shot up until 1.35 where it was located at the time of this analysis. If looking in the shorter term, the US Dollar failed to form a wave up last week. Thus, it seems that the previous bullish momentum has allayed which may point to a soon breakout south. In order to confirm this scenario, the Greenback has to breach the 55– and 100-hour SMS, the 23.60% Fibonacci retracement line and the weekly R1 near 1.3370. It is possible that the rate still finds some support by the aforementioned SMAs which might lead the pair towards the weekly R3 and the 38.20% Fibo during the nearest sessions. By and large, the bearish sentiment should eventually take over the market and allow for a medium-term decline.
Short
by UnknownUnicorn890690
No Change on The USDSGDWe last posted on the USDSGD on March 27th when price was firmly range bound between pivot resistance from September of last year and the round number 1.3000 acting as support. There has been no change on this since then and price has continued to side wind between those levels of support and resistance. Price is our, and must also be your, primary indicator. We can clearly see that the USDSGD is in consolidation looking at price alone and when you should be standing aside. The EURUSD and the GBPUSD continue to remain range bound too and also require breakouts. Where many go wrong is using lagging indicators such as MACD or RSI to try and predict what price will do next. It is a false economy. Price is best placed to dictate what to do next rather than using a lagging indicator to predict. A good tool to CONFIRM that price is in consolidation is the daily 50SMA. When in a trend, we want to see the moving average following price and angling up or down depending on the trend direction. Looking at the daily chart, we can that the 50SMA is going sideways conforming price is in consolidation. As price is trading below the daily 200SMA and the daily 50SMA, our bias is still very much bearish. We are already short on this currency from the start of the year and now waiting for a break and close below 1.3000 support to suggest a continuation of the bear trend. This is when we will look to add compounds as price weakens further towards 1.2000. Remember, to be a trader, you do not need to be executing traders every single day. That is what your broker wants and will encourage you to do. Instead, trade when trends are in play and stand aside when not. The best timeframes to establish trends are the monthly, weekly and daily. Patience, a feature for both FX and stocks, very much needed for now. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Short
by Sublime_Trading
USD/SGD 1H Chart: Pair still remains weakenedUSD/SGD has been trading in a triangle-like formation since early 2018. Following a test of its lower boundary on March 27, the US Dollar has began a gradual recovery against its Singapore counterpart. The pair even breached a three-week trend-line around 1.3130 today. This factor suggests that it might be bound for a surge towards the upper triangle line in the 1.3250/1.3300 territory. Even if this appreciation does not occur during the following week, bulls are expected to prevail in the medium term. Meanwhile, technical indicators flash bearish signals, so a decline is a more likely scenario this week. A possible downside target for today could be the combined support of the 55-, 100– and 200-hour SMAs and the weekly PP at 1.3110. A further decline would push the US Dollar below the bottom triangle boundary and the weekly S1, thus approaching the three-year low of 1.3022. This level might remain unreached, as the 1.3060 area is expected to provide unbreakable support.
by UnknownUnicorn890690
Will The USDSGD Breakout?The USDSGD is an exotic that is a regular on our watchlist. It is a slow mover but trends very well and hence a great addition to balancing out a portfolio. If you look at the monthly time frame, you can see how well this trends from 2002 all the way through to 2011. Since 2011, however, this has been difficult to trade with short lived trends and extended periods of consolidation but this is now showing signs of resuming back to its trending ways. At the start of 2017, price produced an engulfing candle at the 2016 high, and has established a bear trend ever since. It was when price broke out of consolidation below the daily 200SMA earlier this year that our first short position was triggered. This swiftly moved into profit before finding support at 1.3000 which has since kept this currency in consolidation. Price is now starting to looking interesting again with a good move to the downside which has taken price close to support and a potential breakout to the downside. For us to consider adding compounds, we need to see a break and close below 1.3000 which is currently acting as key round number support. We would then like to see price move towards 1.4000. There are times when patience is essential in good trading, particularly when price is in a trend and close to key support or resistance levels. This is one of those times. Trade well and not often as the expression goes. Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments! Sublime Trading
Short
by Sublime_Trading
Long USDSGD, Elliot WavesBelow picture is quite detailed on my counts. First we have a 5 wave impulsive move to the upside, forming a leading diagonal. This is followed by a complex WXY, forming a ZZ- Expanded flat - 5 wave counter trend (3-3-5) Wave 5 of 5 terminated near 1.305 as a truncated 5th wave. There we should expect the next move to be an impulsive 5 wave. From here we zoom into the recent upward move from 1.305 as a 1st wave of a smaller degree. (I eliminated the possibility that wave 5 of 5 has not terminated at 1.305, due to the fact that the rise from 1.305 has surpass the 0.618% retracement level) Currently we are in wave 2 of a smaller degree bullish upwards. Prices will have to hold above 1.314, as this is the 61.8% retrace of the recent up move from 1.305. Wave 2 seem to be an expanded flat. Establishing long positions above 1.314, with stops below 1.305 seem to yield a very good RR. If wave count is true, we should expect the 3/C wave of the larger degree to at least be equal to 1/A. This would lead us to a potential target zone of 1.511 - 1.535 region (almost a 2000pip upside) Trade Idea, Long at market : 1.317 Stop 1.304 Profit target 1 : 1.358 Profit target 2 : Open
Long
by melvinljw
USD/SGD 4H Chart: Channel going upwardsThe last time the USD/SGD pair was reviewed by the Dukascopy analysts, it was discovered that there is a medium term ascending channel guiding the Buck higher against the Singaporean currency. That pattern has remained intact and is best observed on the four hour timeframe chart. However, by switching to the hourly chart one can spot additional details. Namely, the pair is squeezed in between support levels ranging from 1.3194 to 1.3205 level and the new monthly pivot point at the 1.3217 mark. In accordance with the pattern and the fact that the support seem much stronger, the pair should break out to the upside to make another attempt to pass the resistance levels, which are located near the 1.3285 mark.
Long
by UnknownUnicorn890690
USD/SGD Daily Update (27/2/18)Price has made its move. Too late to short and too early to long. 1.305 would be an area that provides a low risk entry position Lets see if PA could bounce the 3rd time there. Disclaimer: The information contained in this presentation is solely for educational purposes and does not constitute investment advice. The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such activity is suitable for your own financial situation. SonicR Mastery team is not responsible for any liabilities arising from the result of your market involvement or individual trade activities
by imjmesl
USD/SGD 1H Chart: Rate narrows trading rangeNZD/JPY has been confined by a long-term channel against since November, 2016. Its trading range, however, has diminished substantially during the previous month. As a result, the pair has formed a wedge-like formation (dashed lines) which was drawn from two opposing trend-lines. Its bottom line was tested last week when the Kiwi reversed from the 1.3080 mark. It has since moved higher in a narrow channel up. Technical indicators suggest that this pattern should be breached today, thus allowing the rate to approach the combined support of the 200– and 100-hour SMAs, the 23.60% Fibo retracement and the weekly PP in the 1.3180/67 territory. Given the strength of this cluster, the Kiwi could reverse near this territory and later test the upper trend-line and the 38.20% Fibo near 1.3280. Subsequently, the rate is expected to form a new wave down just to continue trading in line with the wedge.
by UnknownUnicorn890690
Short SGD/USD now. Then go long on Feb 24th 2018.The Singaporean government has opted for a tighter monetary policy because they are offering bonds worth $24 Billion. I'm used to superlatives, BUT a $24 Billion bond issue?!. Its as if the government went around its own banks and is offering a product itself. SGD will strengthen because of Singapore's strategic business location, good business environment, and as a result of a tighter policy - restricting currency. Most indicators point to the SGD strengethening long-term.
Short
by baronbloe