Bullish ABCD - USDSGD 4hr chartBullish USDSGD with ABCD pattern spotted
TP1: 1.3857
TP2: 1.3921
SL: 1.3635
To enter trade, wait for price to trigger at : 1.3756
SGDUSD trade ideas
Looking to go long USDSGD .. the week of 22JuneNothing is 100% in trading but in my opinion, this pair could be turning bullish.
A break above 1.3980 and then above 1.4030 will provide a level of certainty to this view and conservative traders can wait for such "confirmation".
I am a bit more aggressive and would like to go long if we get a pullback to the upward sloping trend line. In that case the stop can be placed below 1.3930. This will provide a tight stop while increasing the R/R potential considerably.
However, if we get a H4 close below 1.3930, that will negate my analysis.
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As always, please use sound money and risk management in all your trades.
Super triangular patternIn the USDSGD currency pair, we are seeing the formation of a continuing triangular pattern, so we expect the price to continue to move down and touch the following targets.
TP1: 1.38322
TP2: 1.37588
TP3: 1.36853
TP4: 1.34584
If the price goes above the triangle, we expect the price to rise to at least 1.40051. But keep in mind that the probability of a price increase is 20%.
The analysis is performed on a daily basis and is long-term.
🔸Signal by Yazdani
USDSGD: Important Breakout & Bullish Continuation
Singapore Dollar broke above the resistance of a falling parallel channel.
The breakout was confirmed by 4H/1H candle close above.
After a retest of a broken line, we see a positive reaction and based on that I assume that the price will keep growing.
Next goals for buyers:
1.393
1.396
good luck!
The Singaporean dollar eyes the lower support levelThe Singaporean dollar eyes the lower support level and locks in with determination to drag the US dollar. Bearish investors are taking advantage of the risk sentiment in the global market that’s causing the safe-haven appeal of the US dollar to crumble in sessions. The US dollar to Singaporean dollar trading pair should continue its downward track in the market and eventually hit its lower support level later this month. However, the reopening of the economy amidst the rising number of cases leaves the Singaporean dollar very vulnerable. If things turn south, the Singaporean dollar could lose its grip against the US dollar. Just this Wednesday, the strong yet small country reported more than 450 new confirmed coronavirus cases including seven cases in the community. The preliminary daily update of the Singaporean Ministry of Health states that the number of confirmed coronavirus cases in the country is now around 38,965.
