USD/SGD turned down

USD/SGD turned down

2019-11-11 • Updated

Trade idea

SELL 1.3490; TP1 1.3440; TP2 1.3350; SL 1.3510

USD/SGD formed the top at 1.3870 in October. The pair closed below 50-month MA in December and below 100-week MA (1.3600) last week.

USDSGDWeekly.png

On D1, the pair passed down through the 200-day MA (1.3593), which will now play the role of resistance. Yesterday USD/SGD closed below 38.2% Fibo at 1.3540. A new wave of selling will start once the pair is below 1.3490. Be ready to act on it!

usdsgd.png

 

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