• FxWirePro: Singapore Dollar depreciates in early Asia, bias remains bullish

    Source: FxWire Pro - Technicals / 21 Feb 2018 23:44:09   Eastern Standard Time

    • USD/SGD is currently trading around 1.3252 marks.
    • It made intraday high at 1.3255 and low at 1.3232 levels.
    • Intraday bias remains bullish till the time pair holds key support at 1.3192 marks.
    • A daily close above 1.3237 will test key resistances at 1.3255, 1.3290, 1.3340, 1.3438 and 1.3532 levels respectively.
    • Alternatively, a consistent close below 1.3237 will drag
    • the parity down towards key support at 1.3192/1.3132/1.3090/1.3005/1.2855/1.2754 levels respectively.
    • Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart. Current upside movement is short term trend correction only.

    We prefer to take long position on USD/SGD around 1.3245, stop loss at 1.3192 and target of 1.3290/1.3340.

    FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest