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Euro / Singapore Dollar

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EURSGD trade ideas

(4h, $EURSGD){4H, $EURSGD} The general price movement is in an descending-channel after price confirm the Support/Resistance-levels. {Previous Price Action} The last price movements been created a Rectangle-pattern where's the price got to move in consolidation-area after break above Resistance-level of Mini-descending-channel. {Current State} the volume right now showing no sings of potential breakout from rectangle pattern, because of the long-period of the consolidation the Rectangle-pattern become much stronger when it come to holding price so we may see some fakeouts before the real breakout. {The Plan} Is to wait for price to breakout from rectangle-pattern & start making LL/LH in order to trade following general price movements & overall direction of the trend After getting all confirmations. {Alerts} Set Alert at (1.51182) level to catch next SHORT movements after breakout & getting all Confirmations. {Valid Pattern} Rectangle {HQ Chart} i.ibb.co {Original post} stocktwits.com Follow me at Stocktwits.com for more: @itsFiras
Short
by FirasMohamed
EURSGD: Sell opportunity on recurring pattern.The pair has been trading within a 1M Channel Down (RSI = 40.510, MACD = -0.011, Highs/Lows = -0.0132) since the start of the year. Recently is has been following a previous pattern within the Channel Down that calls for a bearish extension. We are taking this sell opportunity to aim near the 1.4810 Support. Attention is required and readiness for an early exit as this levels has been holding since November 2015. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
Short
by InvestingScope
(4h, $EURSGD){4H, $EURSGD} The general price movements is in an Descending-channel after price confirm the Support/Resistance-levels. {Previous Price Action} The price was moving consistently inside the mini-descending-channel with some fake-out around the support-level, the middle-line of the channel has been rejecting the price multi-times before so we should take this in consider when it comes to TP target. {Current State} Price start making LL/LH but still bouncing inside Rectangle around Resistance-level of the channel while still no confirmation of potential breakout yet. {The Plan} The deal now is to wait for breakout in order to trade following the general price movements & the TP should be around the Middle-line of the channel because it's key-level of previous price-action-support {Alerts} Set Alert at (1.51218) level to catch next SHORT movements after breakout & getting all Confirmations {Valid Pattern} Rectangle-pattern {HQ Chart} i.ibb.co (Original post: stocktwits.com )
Short
by FirasMohamed
EURSGD approaching support, potential for a bounce! EURSGD is expected to drop to 1st support at 1.51545 where it could potentially react off and up to 1st resistance at 1.51847. *Disclaimer.* Trading leveraged products carries a high level of risk and may result in you losing substantially more than your initial investment. Pepperstone Group Limited is licensed and regulated by the Australian Securities and Investments Commission (AFSL 414530). Pepperstone Limited is authorised and regulated by the United Kingdom Financial Conduct Authority (FRN 684312). This information is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Long
by Pepperstone