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Weekly forecast US Dollar / Singapore Dollar technical chart
Symbol USDSGD

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Trading suggestion:

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

DateApril 11, 2020 - 22:55
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 1.40350, resumption of uptrend is expected.
  • We make sure when the resistance at 1.46350 breaks.
  • If the support at 1.40350 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The ascending flag taking shape suggests we will soon see another leg higher.
  • There is a divergence in RSI and price between the peak at 1.40765 on 2020-02-20 and the peak at 1.46345 on 2020-03-23, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI support #1 at 42 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 1.4400 on 04/03/2020, so more losses to support(s) 1.4120 and minimum to Major Support (1.4035) 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 46.

Supports and Resistances:

  1. 1.3930
  2. 1.3845
  3. 1.3780
  4. 1.3715
  5. 1.3665
  6. 1.3600
  7. 1.3330
  8. 1.3240
  9. 1.3100
Click on the level to view price action history.