SGDUSD trade ideas
Price broke above previous highs , long continuationPrice has made new high in daily chart , wait for pullback and confirmed support in order to enter long setup ..
In these articles we post intraday possible outcomes of pairs based on naked trading setup only .. We do not take into account fundamental news which may move pair significantly in any direction , follow your trading plan .
USDSGD - Bullish - Descending right angled broadeningWith the recent big financial assistance package and the recent news of possible recession in coming quarters, through the economic cycle, the SGD may be weakening to overcome potential inflation rise. If this is true, then this formation of possible right angled TA may become bullish in time to come. Potential target is shown. What do you think?
Feel free to share your thoughts comments box. Note: This is not financial or investment advise. It will be good to always understand the risks involve in trading. Always trade with stop loss in place. Thumbs up if u like the analysis :)
USDSGD, Tight Stop-> ShortGoing for a tight stop, triple top scenario and looking for it to reverse trend.
View on USD/SGD (18/2)Price is at overlap resistance zone.
Waiting for price to break below 1.385 to create the 1st LL.
Will short on retrace after signs of bearish is seen
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Broken above previous highs... Continuation or Rejection ? Price has broken above previous highs , but as we can see in chart last time when it did made new highs price got rejected towards previous lows , this suggests that we should apply cautious approach to this PAIR ,
Wait for confirmation of breakout and then long otherwise look to short on rejection.
USDSGD. PRICE NEED TO BREAK NECKLINE FOR MORE UPSIDE MOVEMENTPrevious trade was invalid as price formed a triangle and broke upwards.
Formed a inverse head and shoulders with a neckline just formed.
Price need to break above neckline to be bullish
Moving into triangle = bearish
Current: Neutral. waiting for set up
USDSGD. OVERBOUGHT BUT IS THIS A REVERSAL?USDSGD peak as the USD strengthen and the SGD weakened due to the coronavirus situation happening in SG.
However price is weakening as price broke below the uptrend channel, retested and formed lower lows and lower high. (a new downward channel)
Price has been respecting this new downward channel and just recently reversed from the trend line and 50EMA @ 30mins.
Expecting price to further decrease when the bottom trendline is broken.
USDSGD - Upwards Trend EndingBreakdown of large upward trend resulting in clear forming top.
Will wait until this is confirmed before entering.
Risk to Reward of 1.83.
