USD/SGD contiues the downtrend

USD/SGD contiues the downtrend

Trade idea

SELL 1.3490; TP 1.3440; SL 1.3505

USD/SGD was rejected last week by the 100-week MA and 200-day MA in the 1.3580 area but managed to close the week above 50-week MA (1.3525). The new week started with the price below this line. On D1, the downtrend continues, MAs are in the bearish position. Still, to sell we would like to see a break below the recent lows (1.35). The target will lie at 50% Fibo of the 2018 advance at 1.3440.  




Levels to trade EUR/USD

EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.

USD/JPY: target for selling

The resistance line is limiting USD/JPY on the upside and, unless the pair tries for a breakout (which anyway will meet resistance at 106.50 and 106.80), the easiest path for it will be to go down.

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