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Weekly forecast New Zealand Dollar / Singapore Dollar technical chart
Symbol NZDSGD

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Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateAugust 15, 2020 - 21:00
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 0.92400, beginning of downtrend is expected.
  • We make sure when the support at 0.84350 breaks.
  • If the resistance at 0.92400 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 0.91155 on 2020-06-09 and the peak at 0.92385 on 2020-07-23, the probability of uptrend continuation is decreased and the probability of beginning of downtrend is increased.
  • The RSI uptrend #1 is broken, so the probability of beginning of downtrend is increased.
  • A peak is formed in daily chart at 0.9235 on 07/22/2020, so more losses to support(s) 0.8885, 0.8805, 0.8720 and minimum to Major Support (0.8435) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 36.

Supports and Resistances:

  1. 0.9710
  2. 0.9480
  3. 0.9340
  4. 0.9240
  5. 0.9110
  6. 0.9015
  7. 0.8680
Click on the level to view price action history.