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AUD/SGD

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AUDSGD trade ideas

Aussie setups building upThere are quite a few reversal setups building up right now and I wanted to highlight one in particular. The AUDSGD has been in the recent uptrend for some time and 1.048 is the bottom of a previous resistance zone. The ultimate high is a little higher at 1.0516 but it seems like price is already finding supply. We haven't broken the 20 SMA in 10 days and the uptrend shows a strong structure. The divergence is also adding confluence here. The BB spike didn't happen and price even failed to reach the outer BB. We had some type of reversal pattern: large bullish candle, pinbar, large bearish candle. The only thing missing is the break of the 20 SMa with a strong bearish candle. DON'T enter just yet but wait for the confirmed signal.
by Tradeciety
Long AUDSGD after MAS easing policy and AUD employment dataBetter than expected employment data from Australia this week boosted the AUD against most currencies. Due to the previously weak USD, AUDUSD had already moved into a bullish sentiment zone, and this weeks data adds to that conviction. We note however a potential trade setup for AUDSGD as the good Aussie data accompanied by the easing move by MAS allowed the pair to break above the 1.04 handle, to turn the current sentiment from  a neutral sideways market to a bullish break out.  Visit our main page at www.fxgenesisfm.com for more analysis and articles, or if you wish to connect with fellow trend traders. :)
Long
by FxGenesis