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EUR/SGD

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EURSGD trade ideas

EURSGD - Shooting star rejecting multiple resistance levelsLooks like a really clear bearish signal rejecting previous S/R level, a Fib 68% retrace level and a long-term downwards trendline. A previous bearish engulfing signal on 26/8 failed as there were still too many over enthusiastic bulls around after the pairs phenomenal upwards move the previous week, causing the price to drop to do a fib 38% retrace and attempt to push higher. But clearly there is strong resistance around 1.5300 and we're now ready to move, hopefully to the lows again, giving us a decent 300 pips. Good luck!
Short
by MrVolcano