• FxWirePro: Singapore Dollar trades almost flat in early Asia, bias remains neutral

    Source: FxWire Pro - Technicals / 20 Nov 2017 22:33:49   Eastern Standard Time

    • USD/SGD is currently trading around 1.3566 marks.
    • It made intraday high at 1.3579 and low at 1.3565 levels.
    • Intraday bias remains neutral for the moment.
    • A daily close above 1.3602 will test key resistances at 1.3652, 1.3715, 1.3768, 1.3822, 1.3949, 1.4046, 1.4095, 1.4128, 1.4219 and 1.4310 levels respectively.
    • Alternatively, a consistent close below 1.3532 will drag the parity down towards key supports at 1.3510/1.3492/1.3460/1.3418/1.3346/1.3217/1.3164/1.3005 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.

    Positioning is inconclusive at this point, with prices offering no clear cut signal to initiate a long or short trade. We will continue to remain on sidelines for the time being.

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