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U.S. Dollar / Singapore Dollar

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USDSGD trade ideas

Another reason to go shopping in Amazon , hahaFirst, Christmas is round the corner. Secondly, maybe not the most to most shoppers are exchange rate, especially if it is a one-off purchase. Being a trader and investor, I guess this is some kind of occupational hazard. Chart tells me it is likely to fall further to 1.344 but at current rate, it is much better compared to March this year when it was at a high of 1.465. Buying a product at US$100 would require me to part SGD 134 compared to SGD146 , a savings of SGD12. So, if you can wait, consolidate your shopping list and as time passes, nearer to the festive season, the merchants might dangle more carrots for you. So that is best of both world, haha. Will I short now ? No, the RRR is not worth it and the chance of rebounding is higher now....
by dchua1969
Sgd/Usd (Im Selling)I have 2 trades open. They are both at only 0.01 My 2 take profits are on the chart. This chart is very clear! Price made many tops on the daily and has started its move down. If you trade this big , you could get caught in days of ranges , get aggervated and close the trade that should be a winner , but was a loss instead. This kind of trading has changed the way I have been trading as I was losing many trades and now im starting to win trades as I trade smaller , hold longer, and sleep at night. The longer I stayed awake , the more i messed up! So i learned that I was always the problem and not the markets. Everyone has losses , its part of this. Everyone has losing weeks. But trading as small as i possibly can has actually changed my trading for life.
Short
by RlcTrading
1
USD/SGD - market takes a breath before going LONG!Like many of the USD pairs this week, USD/SGD has shown a lot of strength, from it's lows at the start of the week it has risen 236 PIPS. Price broke to the upside from a descending daily trend channel last week, and this week price has broken again to the upside from a falling wedge. Both good indications that we may be seeing the start of a trend shift. Due to the moves experienced this week it is only likely that the market will pullback to retest a level of support - namely the zone between 1.3730 to 1.3715. At this point will be looking for an entry to go long on this pair. From their take profit targets will be 1.3775 and 1.3856. If a lower high is formed below this zone, this analysis will become invalid.
Long
by TheForexFellows
2