Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
USD/SGD: a short-term trade
2019-11-11 • Updated
SELL 1.3539; TP1 1.3528; SL 1.3545
USD/SGD is recoiling down from the resistance line going back from October highs. Stochastic Oscillator is providing a sell signal on the daily chart. The decline below the 50-day MA at 1.3540 will open the way down to 1.3528 (short-term trendline support) and to 1.3515 (50% Fibonacci) if the slide continues.
As you must already know, the direction of Gold is mainly dependent on the Price action of DXY (US Dollar index). So first, we take a look at the US Dollar index.
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This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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