08 03 17 Target 200 SGD Episode Two
Singapore Dollar: USD/SGD (SGD=X) upside pressure easing
/SGD has appreciated significantly till date and at the current junction, USD/SGD seems to have difficulty closing above the 1.365 critical resistance level. The common question among investors would be where will USD/SGD be heading next?
First half of July saw USD/SGD gaining momentum to a temporary 1.3745 high, but upside pressure eased in the latter half. Pair continues consolidating and is now well confined within the 1.3574-1.3652 range without a clear direction in the near term.
In the month ahead however, expect more upside pressure from a strong US economy, a correspondingly hawkish fed, and volatility from current global trade conditions. A break above the 1.3652 resistance will give way to more gains and a return to the 1.3700 level still a possibility. SGD NEER last seen at 1.60% above midpoint. STI opened lower and gained slight upside momentum shortly after. At last look however, STI made a 0.26% loss.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.
Separating lines occurred. If the lines occur during an uptrend and the first line is black and the second is white (which is the case with FOREX SGD=) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend (which appears to be the case with FOREX SGD=) and the first line is white and the second is black (which is not the case with FOREX SGD=) then this suggests that the downtrend should continue.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 46.3773. This is not an overbought or oversold reading. The last signal was a buy 15 period(s) ago. 200 Sgd To Usd
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 51.85. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 21 period(s) ago.
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -67. This is not a topping or bottoming area. The last signal was a sell 8 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 19 period(s) ago.
FOREX SGD= closed up 0.001 at 1.362. Volume was 100% below average (consolidating) and Bollinger Bands were 44% narrower than normal.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
200 Sgd To Usd
Singapore Dollar: USD/SGD (SGD=X) upside pressure easing
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