AUDSGD Timeframe: 1D Direction: Long Confluences for Trade: - Bearish candle formation (Pin bar formation) - Slowing in weakening momentum - A rough Elliot Wave count should have current price levels completed a Wave 3 and may head upwards to do a Wave 4. - Double bottom formed recently - A second double bottom may form, look out for it's formation at...
As long as the 50 ema on the 3 hour timeframe holds as resistence, this move is active. As soon as the current support line is broken, we can expect this to fall At the moment being, it is looking more prominent to fall down as it's been in a consolidation for a few days and the long term trend is still bearish (daily and weekly). If it does make a pullback up,...
Doing this for friends, and I don't really trade this pair, at least not yet. :D I'm looking at 0.9828 as the major support level and if you are waiting for lower rates, ie stronger SGD over AUD or weaker AUD over SGD I would pretty much wait for this level. The rate should achieve this level within this month. Disclaimer: Information or opinions provided herein...
Watch the top for a flat channel formation. If price action confirms that then it will be a good trade.
FX_IDC:AUDSGD