• FxWirePro: USD/SGD slips below 1.38 Mark, stay bearish only below 1.3780 Mark

    Source: FxWire Pro - Technicals / 06 Oct 2019 07:11:09   America/New_York

    • USD/SGD is currently trading around 1.3792 marks.
       
    • It made intraday high at 1.3811 and low at 1.3783 levels.
       
    • Intraday bias remains bearish till the time pair holds key resistance at 1.3855 mark.
       
    • A daily close above 1.3808 will test key resistances at 1.3855, 1.3913, 1.3945, 1.3984 and 1.4012 marks respectively.
       
    • Alternatively, a consistent close below 1.3808 will drag the parity down towards key supports at 1.3780, 1.3738, 1.3667, 1.3622 and 1.3580 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 only below 1.3780, stop loss at 1.3815 and target of 1.3738.

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