AUD/SGD 1H Chart: Channel DownAUD/SGD 1H Chart: Channel Down
The Australian Dollar is trading against the Singapore Dollar in a short-term descending channel, which consists of four reaction highs and three reaction lows and, thus, might be broken already by the end of the week.
Historically, the currency rate made multiple attempts to break to the top.
However, each time these endeavours were stopped by a combination of the 55-, 100- and 200-hour SMAs.
The fact that this pair is so sensitive to the above moving averages suggests that a breakout in the northern direction is unlikely to happen.
Moreover, channels are continuation patterns and, thus, should not change a recently established general downtrend.
The above assumption is additionally supported by the fact that 73% of traders hold short positions on this currency pair.
AUDSGD trade ideas
AUDSGD - WEEKEND ANALYSIS - POSSIBLE SHORTS INTO LONGSHi All,
Here is my weekend Analysis on this pair. Please note that this is only a guide I do not trade in the weekly time frame. I have a full time sales job, so i trade on the 4hr time frames (candle Closes). this means I only need to be in the front of a computer 10 mins every 4 hours.
Is this it for AUDSGD?I have been waiting weeks for this to happen and pointed this out to our pro members during this week's Sunday watchlist and yesterday in the forum.
Retests often happen after strong breakouts. Price does not move in one single line so give it time to work out. The current momentum clearly indicates a shift in buyer-seller balance but price does move in waves and so you need to be prepared for pullbacks.
AUD/SGD Idea Can an uptrend be underway? I have acquired a few confluences after observation. Price appears to be in a retracement at the moment. We can see from the macro perspective that new higher highs and higher lows have been established indicated by the arrows. To get into a long trade, for safety, I would wait until a break above and close above of the blue line (observation from 4-hour time frame). We will see how this plays out.
AUD/SGD [1DC] BUY it right NOW!OANDA:AUDSGD
Buy the pair since the price has reached a a very critical point where it hangs on a historical support in addition to reaching the channel bottom.
This is almost 2 : 3 weeks long trade with a very low risk potential. Place your SL few pips right under the current bearish candle.
Total pips: 370 Pips.
Any breakout to the current supports will VOID the setup.
Do it on your own responsibility with a proper money management.
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