Singapore Dollar: USD/SGD (SGD=X) remains supported above 1.38

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								Singapore Dollar: USD/SGD (SGD=X) remains supported above 1.38

Singapore Dollar: USD/SGD (SGD=X) remains supported above 1.38

  • USD/SGD is currently trading around 1.3806 marks.
  • It made intraday high at 1.3811 and low at 1.3798 levels.
  • Intraday bias remains slightly bullish till the time pair holds key support at 1.3790 mark.
  • A daily close above 1.3815 will test key resistances at 1.3838, 1.3872, 1.3905 and 1.3948 levels respectively.
  • Alternatively, a consistent close below 1.3790 will drag the parity down towards key supports at 1.3772/1.3730/1.3690/1.3654/1.3620/1.3570/1.3510/1.3450 levels respectively.
  • Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.

Overall, the bias in prices is: Sideways.

The projected upper bound is: 1.39.

The projected lower bound is: 1.37.

The projected closing price is: 1.38.


								Singapore Dollar: USD/SGD (SGD=X) remains supported above 1.38

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 27 white candles and 23 black candles for a net of 4 white candles.

Momentum Indicators

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.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 68.0939. This is not an overbought or oversold reading. The last signal was a sell 14 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 59.62. 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 85 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 157.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 14 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 1 period(s) ago.

Rex Takasugi – TD Profile

FOREX SGD= closed down -0.000 at 1.383. Volume was 96% below average (consolidating) and Bollinger Bands were 53% narrower than normal.

Open High Low Close Volume___
1.383 1.384 1.383 1.383 1,255

Technical Outlook
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 1.38 1.37 1.35
Volatility: 4 4 5
Volume: 23,101 24,921 28,594

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.

Summary

FOREX SGD= is currently 2.8% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into SGD= (mildly bullish). Our trend forecasting oscillators are currently bullish on SGD= and have had this outlook for the last 18 periods.

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