Thursday, 28 August 2014

USDSGD good entry

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The Singapore Dollar (now at 1.2457 ) is set to temporarily climb to the area 1.2577-1.2681 or even 1.2608-1.2615 (see daily chart), before resuming the main downtrend started on Jan 23.

The present level (1.2457 ) seems to be a good entry point for a long. Similarly, the top in the area 1.2577-1.2681 (or maybe the area at 1.2608-1.2615) could be your entry point for a very good short.

The USDSGD should be able to get to 1.22 before staging the next significant retracement.


topping soon at:
likely: 1.2577-1.2681
possibly: 1.2608-1.2615

Then down to:
likely: 1.22
possibly: 1.19140


The weekly chart reveals that the triangle ended  with "wave e" and stared a downtrend from there.

The daily chart displays only 3 waves down (of 5) and the development of the two-step-patterns up to 
1.2577-1.2681 or 1.2608-1.2615.

Weekly chart - click to enlarge

Daily chart - click to enlarge

Wave oscillator on a Daily chart - click to enlarge

4-hour chart - click to enlarge

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