USD/SGD turned down
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.
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!
After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.
The USD started the day dropping against the Canadian dollar, now on a bullish reversal.