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SINGAPORE DOLLAR / U.S. DOLLAR

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SGDUSD trade ideas

Don't miss the great buy opportunity in USDSGDMidterm forecast: . While the price is above the support 1.3430, beginning of uptrend is expected. . We make sure when the resistance at 1.3754 breaks. . If the support at 1.3430 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: . The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased. . A peak is formed in daily chart at 1.3985 on 06/22/2020, so more losses to support(s) 1.3550 and minimum to Major Support (1.3430) is expected. . Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. . Relative strength index (RSI) is 50. Take Profits: TP1= @1.3754 TP2= @1.3885 TP3= @1.4035 TP4= @1.4270 TP5= @1.4635 TP6 Free ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
6
Don't miss the great buy opportunity in USDSGDMidterm forecast: . While the price is above the support 1.3430, beginning of uptrend is expected. . We make sure when the resistance at 1.3754 breaks. . If the support at 1.3430 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: . The RSI downtrend #1 is broken, so the probability of beginning of uptrend is increased. . A peak is formed in daily chart at 1.3985 on 06/22/2020, so more losses to support(s) 1.3550 and minimum to Major Support (1.3430) is expected. . Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. . Relative strength index (RSI) is 50. Take Profits: TP1= @1.3754 TP2= @1.3885 TP3= @1.4035 TP4= @1.4270 TP5= @1.4635 TP6 Free ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how do you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
6
7% discount for USDSGD The USDSGD has peaked on 13th March at 1.46 and has since tumbled down 7% to a low of 1.356 on 1 Sept 20. It has just broke out from the bearish trend line and I believe this is a great opportunity to go long once more and ride it to 1.40 and then 1.42. You can see the risk is pretty low as if the market moves against us by returning the price back to either the bearish trend line or worse, below the weekly bullish trend line (taking 1 Sept 1.356 as guide) See you at 1.40 later ,guys !
Long
by dchua1969
1
The weak economic projections for the Singaporean economyThe weak economic projections for the Singaporean economy are very detrimental to the country’s beloved currency. Prices of the US dollar to Singaporean dollar exchange rate are bound to go up to their support level thanks to the recent reports about Singapore’s economy which cast a massive cloud of gloom in the country. Most experts say that Singapore’s economy is expected to shrink drastically in the third quarter of the year thanks to the coronavirus pandemic. The economic contraction in Singapore is said to be the country’s worst quarterly contraction in history according to the Singapore Department of Statistics. Meanwhile, the US dollar might finally see positive waters in the coming weeks as the US economy records better signs amidst the chaos faced by the country. The upbeat US jobs report last week was the main factor why the dollar gained as it eased the hopes of new stimulus measures from the government.
Long
by Financebroker
USD/SGD Long-term outlookUSD/SGD currency pair testing multi-year rising support. On the 23rd of March this year the USD/SGD currency pair topped out at the 2nd of January 2017 highs (Double Top) and has since declined relentlessly. Now testing multi-year rising (A) and falling wedge support at (1). A good buying opportunity for the long term could present itself above (1) with 1.37300s as a first resistance zone to watch for, followed by 1.38449 and 1.39458 whereby a good selling opportunity could hinder the bulls’ efforts for the short term before the uptrend resumes. Alternatively, if the bears can breach this dual support zone now in play, and push prices below the January ‘20 lows at 2 (1.34469) we can expect to see an increase in selling pressure forcing prices furthermore to low 133s, followed by 1.31665 and 1.30039 in extension.
by the_short_hustle