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Euro / Singapore Dollar

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EURSGD trade ideas

Bullish Setup on the Pullback for EURSGDThe pair is looking to do a pullback before continuing with its bullish movement which has been dominant for the month. All time frames down to the 4h are with confluence with the big money movers. The strategy is to wait for the pullback and confirmation before going long with stop just below the major liquidity zone. First TP zone would be the mid of the swing high and we can trail our stop until our TP reaches the most recent swing high. This gives us a minimum of 1:2.4 RR Ratio.
Long
by KB_MarketAnalysis
EURSGD Fourth Retest of a Key Resistance LevelAs you can see on the chart, the pair is currently on its fourth retest of this key resistance level. If we drill down on the Daily chart, the most recent candlestick is a doji which shows indecision. However, if we look at the stochastics and the RSI, both are going to the overbought areas. With the addition of a key resistance level, these signals are quite significant. If we go up to the weekly chart, both indicators say the same story.
by KB_MarketAnalysis