After having completed 5 waves up from Sep'22 to Jul'23, EUR/SGD is coming down in what is likely a corrective ABC move, in which the A wave and B wave (in the form of an ABCDE correction) are already complete. A C wave is now due which would ideally take the rate down to the 0.618 retracement of the 5-wave move up at 1.416 SGD per Euro.
Similar structure to the AUDSGD trade idea I just published, but I have a few more points to add here.
I was originally short this pair.
I attempted to make another attempt to enter short and ended up taking out a loss.
Since price broke to the upside of this range, my directional bias has changed from bearish to bullish.
Momentum picked up nearing last...
EURSGD Trade Setup
Entry: 1.44931
Stop Loss: 1.44725
Take Profit 1: 1.45709
Technical Analysis
-Price has been in the weekly area of liquidity.
-4H and daily charts have already shifted.
-Price was self-liquidating on lower timeframes.
Hi traders, As of this moment I'm starting to see bearish behaviour. We are below 200ma on the daily and we have hit 50% Fib. Only problem is we are at a key Support level. If we break below that it will be a water fall.
Hello Guy,
Looking to trade EURUSD but are in doubt, just look at this pair instead it's well structured.
Have a profitable week.
Follow for more updates like this.
Cheers,
Jabari
EURSGD started consolidating at the beginning of September and then broke below this range 14 days later. Price retraced back to the lower boundary of the previous range and is currently holding below.
This is a good indication that selling pressure remains strong. As long as price is holding below this range, a swing trade potential is possible.
EURSGD I'm expecting the market to hit the reversal zone of 0.786 area before it continue to its trend. As we can see from other markets EURO gaining strength.
Market Confluence:
RSI DIVERGENCE
Fibonacci
Key Level Area
Trendline
Price Action
Elliot Wave
Cup&Handle formation printed during bullish trend and as no divergence seen so it seems continuation may continue after break out and goes upward potentially.
After Bearish trend printed last LH and LL the trend goes to end and market gone into range. To trade in a range it is better to place both Buy/Sell limit orders to minimize risk.
Hi Guys,
I'm sure most of you are unfamiliar with this pair, however, this pair has some good price movement at play that could provide nice trading opportunities. We just had a bit of a sell-off for the past weeks as prices entered a strong weekly/monthly supply zone.
This sell-off brings the price to a key daily demand zone of which the price is meant to cool...
Pair: EURSGD
Analysis: Chart Patterns + Highs & Lows + Impulses & Corrections
Directional Bias: Short
Entry: Continuation Corrective Structure after the breakout.
⚠️ Do your research and apply proper risk management as nothing is guaranteed in forex trading. As we have often said, this is a high risk venture and past performance is not indicative of future...
Based on the chart, it appears that there is a bullish trend forming as evidenced by higher highs (HHs) and higher lows (HLs). Further analysis using the Relative Strength Index (RSI) indicates that there is currently no divergence present. With this in mind, we recommend taking a long trade with a risk/reward ratio of 1:1.
To execute this trade, we suggest...
