USDSGD long just got started, currently a Green 3 above a Green 2 on the daily. Previous highs topped at a Green 9 on the daily signifying a trend exhaustion which required a 1-4 candlestick correction. Actionables: 1) Long USDSGD until Green 7/8 on the daily is observed 2) Take profit if a Red 2 below a Red 1 on the daily is observed 3) Continue to observe USDCNH
The previous TP = 0.99691 was hit as the 1W Channel Down (RSI = 33.366, MACD = -0.011, Highs/Lows = -0.0118) even tested our maximum (at the time) downside spot of 0.97295. A new Channel Down on 1D was developed (RSI = 37.323) that is aiming at a near 0.9555 Lower Low. Short, TP = 0.96100.
The 1D Channel Down (RSI = 43.604, Highs/Lows = -0.0005) is approaching 1.57500 which is a Higher Low on the 1W Channel Up (RSI = 47.255, Highs/Lows = 0.000, STOCH = 63.835). That is a prime long entry and can be split for three targets: the two previous Higher Highs = 1.6000 and 1.6110 and the next projected Higher High = 1.6200.
TP = 5.6600 hit as the 1D Channel Down expanded but on a lower gradient (MACD = -0.006, B/BP = -0.0102) with RSI and Highs/Lows neutral. Nevertheless there are two optimal short opportunities presented on the chart depending on which pattern prevails. TP = 5.63050.
TP = 1.06200 hit as despite a deviation, the 1W Channel Up (RSI = 55.270, MACD = 0.004, BBP = -0.0120) made a Higher High near 1.07500. With the Highs/Lows = 0 (neutral), we can assume that the Higher Low is already priced and that the Channel Up will seek a new Higher High on CADSGD. Long TP = 1.0700.
SGDJPY is trading within an Arc pattern on the Monthly chart (RSI = 50.506, Highs/Lows = 0.0000, MACD = -0.380, B/BP = -0.9320) and the symmetrical Lower Highs are evident. One is such currently ar 81.800 which has tested the 1D Resistance level (RSI = 60.899) and is expected to be rejected and reverse lower. We are entering a short, TP = 80.265.
TP = 1.03200 hit on the previous 4H Rectangle with CADSGD extending the 1D Channel Up (RSI = 53.764, MACD = 0.003, B/BP = 0.0016), which as seen on the chart (also by the neutral Highs/Lows = 0) has just priced its Higher Low. This is the best place to go long with TP = 1.06200.
NZDSGD has just priced a Lower High on its 1W Channel Down (RSI = 35.543, MACD = -0.009, Highs/Lows = -0.0089, B/BP = -0.0174). 1D has just touched its 50% Fibonacci retracement point (STOCHRSI = 54.611, ADX = 20.663, Highs/Lows = 0.0000) and is expected to make a swift 100% completion. We are targeting the cross of the channel's intermediate and Lower Low inner...
USDSGD is on a 1D Channel Up that has just priced (or nearly) a Higher Low (RSI = 52.669, ADX = 15.724, Highs/Lows = 0). This suggests that it is ready for a rebound-leg above the previous Higher High at 1.37500. Our long's TP is 1.38500.
SGDHKD is on a 1D Channel Down formation (MACD = -0.016, B/BP = -0.0239) that is near printing its new Lower High (RSI = 48.006, Highs/Lows = 0). Even the 1W pattern indicating a long term selling pressure (Highs/Lows = -0.0442, B/BP = -0.1618, RSI = 38.403). We are taking a short, TP = 5.6600 but on the first sign of a bounce on 5.7088, we will book the profit earlier.
CHFSGD remains on a 1D Channel Up (RSI = 57.120) although it had to make a deeper than expected Higher Low (MACD = 0.001, Highs/Lows = 0.0014, B/BP = 0.0035, ROC = -0.167). Our TP is stable at 1.3868.
CADSGD is trading within a 1.0310 - 1.0400 Rectangle on 4H (RSI = 57.936, MACD = 0, ATR = 0.0023) and we will take advantage of the swings both ways. First trade, short, TP = 1.03200.
CHFSGD is on a 1D Channel Up (RSI = 52.440) having just formed a new Higher Low (Highs/Lows = 0). With 4H already pushing higher (STOCH = 60.003, ADX = 39.893, B/BP = 0.0023), this is the most suited place for a long, TP = 1.3868.
EURSGD is in front of a crossroad as the 4H Channel Up (RSI = 55.679, Highs/Lows = 0), met the 1.59857 Resistance (early May) and was rejected, but hasn't broken the pattern yet. If it crosses 1.58909 then the bearish reversal is confirmed. If it crosses the 1.59857 Resistance, then the bullish continuation is confirmed. Patience in order to enter the best...
AUDSGD is trading near a Lower High on the 1W Channel Down (RSI = 43.936, MACD = -0.009, B/BP = -0.0054). 1D remains neutral (RSI, STOCH, ADX) and bullish on Highs/Lows = 0.0017 as the price is trading above the intermediate line (blue dots). This suggests that on the long term the downside gap is sizable. Our short TP is 0.99691.
Interesting setup here on one of the exotic pairs. Price looks to be making higher highs & lows after bouncing off weekly support. Abcd pattern in play respecting its 4 hour trendline, watch price once reaching the daily descending trendline for a potential break to the upside or bounce.
CHF/SGD 1H Chart: Channel Up The Swiss Franc is gaining value against the Singapore Dollar in a short-term ascending channel that started to form after the currency exchange rate bounced off from the weekly S1 at 1.4007. Depending on how you draw the pattern, it will consist of two reaction highs or three reaction lows. In any case, there is a clearly...
USD/SGD 1H Chart: Channel Up The American Dollar is trading against the Singapore Dollar in medium-term ascending channel that formed in the result of a change of trend in the end of July. At the moment, the pattern consists of multiple reaction highs and a number of uneven reaction lows. Due to fundamental events the currency rate showed to be quite...