• FxWirePro: Singapore Dollar rises gradually against U.S. Dollar, stay bearish

    Source: FxWire Pro - Technicals / 20 Aug 2018 23:18:32   America/New_York

    • USD/SGD is currently trading around 1.3671 marks.
    • It made intraday high at 1.3693 and low at 1.3669 levels.
    • Intraday bias remains slightly bearish till the time pair holds key resistance at 1.3692 mark.
    • A daily close above 1.3692 will test key resistances at 1.3728, 1.3775, 1.3818, 1.3854 and 1.3905 levels respectively.
    • Alternatively, a consistent close below 1.3692 will drag the parity down towards key supports at 1.3620/1.3570/1.3510 levels respectively.
    • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart. Current downside movement is short term trend correction only.

    We prefer to take short position on USD/SGD around 1.3678, stop loss at 1.3700 and target of 1.3620.

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