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U.S. Dollar / Singapore Dollar

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USDSGD trade ideas

USDSGD - A REVERSAL IN PLAY - IS THIS NEW DOWNTREND?20220508 - 2302H: Weekly prints a doji after bouncing off from DKL @1.3900, while Daily Chart displays a double top with an inverse hammer. Possible reversal in progress. However, EMA displays an uptrend on all time frame. Will await a retest on DKL or a valid HiMAC Sell setup. 20220516 - 2215H: Setup is no longer valid. There is a good possibility of price entering back into channel as H4 prints a short term down trend/cyclicity. 20220517 - 1705H - With Daily Chart presenting a bearish hammer, and price entering the channel, the potential downtrend may proceed as anticipated. H1 chart shows price have shifted below our tolerence level, thus will be expecting a good pull back to retest DKL @1.39 which will be converging with SMA200 and the EMAs. This provide a good confluence of trade groups jumping in for a SELL Trade. Bias: SELL
Short
by SimpleFinancialMgtCommunity
USDSGD 23rd MAY 2022The upward trend in inflation has prompted the US central bank to tighten monetary policy dramatically. The US benchmark interest rate, which was originally expected to rise by around 75 basis points (bps) in 2022, has drastically changed to 175 bps. For the record, the increase in the US benchmark interest rate has increased by 75 bps. An increase of 25 bps occurred in March 2022 and then rose again by 50 bps in May. This will make the dollar strengthen for the next few weeks. Singapore’s Ministry of Home Affairs (MHA) said the following day that Somad has been known to preach "extremist and segregationist" teachings, which are "unacceptable in Singapore’s multi-racial and multi-religious society". Supporters of Indonesian preacher Abdul Somad Batubara staged protests in Jakarta and Medan, North Sumatra. Several of them held placards that read "Boycott Singapore products" As is known, Indonesia is one of Singapore's largest export markets.
Long
by DNP-FX