SGDUSD trade ideas
SHORT ON USDSGDusdsgd has been bearish for sometime now.
looking for a rejection in areas of 1.34360 for a signal to go short.
Usd/Sgd (A Absolutely Beautiful Setup)This is the most beautiful setup I have ever seen!
So glad nobody trades this because after a push up Im Gonna Eat It Up!!!!!!!!!!!!!!
1. Extreme Support , Daily Double Bottom At Extreme Support! I may go for 300 Pips!
ideaPrice is at a weekly support and also divergence is present on the daily time-frame ( the last pip-bender).
USDSGD Ready for a big bounceWe have just touched a pivotal support line.
Last two touches of this line in March 2019 & January 2020 both resulted in decent Elliot Wave runs (January was huge). We are likely seeing the 1st wave forming right now, add this to your watch list and get ready to take advantage of the pull back and the big take off of wave 3.
The US surpassed 10 million total cases of COVID-19The pair will break down from a major support line, sending the pair lower towards the 1.32000 resistance area. Asia’s coronavirus cases remain stable despite the resurgence of the deadly virus in Europe and North America. This week, the US surpassed 10 million total cases of COVID-19 while some countries in Europe implemented a second lockdown. Meanwhile, Singapore had only 1-digit daily infection cases throughout November making Asia, particularly Singapore, a good investment hub for businesses. Aside from this, the country is looking to build up its reserves and take advantage of the weak US dollar. USD reserves by Singapore in October jumped to $338.0 billion compared to the prior month’s $328.0 billion. This, in turn, will hedge the Singaporean dollar against economic uncertainties. In other news, US Chamber of Commerce CEO Thomas Donohue calls for the passing of the new stimulus bill before the inauguration of Biden.
W46 - USDSGD rebound off mirror lineUSDSGD rebounded off mirror line @ 1.34504
Entry slightly above previous retest peak / support and resistance line (early 2020)
Entry at 1.35304
TP 25% each at 25%, 50% (s/r level) and 75% (0.382 fib lvl)
will let the balance 25% see how far it can go after that
RRR at 75% 3.05
RRR at top 9.02 but highly unlikely
Disclaimer: Using this as a journal for my own trades on a test account.
USD_SGD Good time to transfer to US account Weekly demand and oUSD_SGD
Good time to transfer to US account
Weekly demand and origin of the upmove from 19.2
Watching for Pullback Into ResistancePrice has now sold off heavily and broken through the key daily chart support level in this pair.
This old breakout support level looks like a key level in this pair.
If we can get a quick rotation back higher close to this level we could start to look for short trades inline with the recent momentum lower.
Short trades could be hunted on both the daily and smaller intraday time frames and depending on how aggressive you are you could look for confirmation or take a touch trade entry.
💡Don't miss the great buy opportunity in USDSGDMidterm forecast:
While the price is above the support 1.3400, beginning of uptrend is expected.
We make sure when the resistance at 1.3885 breaks.
If the support at 1.3400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.3549 on 2020-09-01 and the trough at 1.3512 on 2020-10-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.3510 on 10/22/2020, so more gains to resistance(s) 1.3550, 1.3675, 1.3785 and maximum to Major Resistance (1.3885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 35.
Take Profits:
TP1 @ 1.3550
TP2 @ 1.3675
TP3 @ 1.3785
TP4 @ 1.3885
TP5 @ 1.4270
TP6 @ 1.4635
TP7 Free
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💡Don't miss the great buy opportunity in USDSGDMidterm forecast:
While the price is above the support 1.3400, beginning of uptrend is expected.
We make sure when the resistance at 1.3885 breaks.
If the support at 1.3400 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
There is a divergence in RSI and price between the trough at 1.3549 on 2020-09-01 and the trough at 1.3512 on 2020-10-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.3510 on 10/22/2020, so more gains to resistance(s) 1.3550, 1.3675, 1.3785 and maximum to Major Resistance (1.3885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 35.
Take Profits:
TP1 @ 1.3550
TP2 @ 1.3675
TP3 @ 1.3785
TP4 @ 1.3885
TP5 @ 1.4270
TP6 @ 1.4635
TP7 Free
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex trader ?
Now, It's your turn !
Be sure to leave a comment let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
USDSGD LongHi traders,
Everything is shaping up nicely for a long on USDSGD, I will therefore go long at market open with a 23 pip stop loss targeting 69 pips for a risk to reward of 1:3.
Best,
Don Deesker
Will Price Make Retracement Higher?In a very similar fashion to the USDJPY, this pair at the end of last week also sold off heavily and made a decent move lower.
Just like the USDJPY did also, this pair broke through a recent strong daily chart support level.
If we can see price make a rotation back higher into a value area, then we could look to make short trades.
Short trades would be inline with the recent strong momentum lower and at a key price flip level on the daily chart.
