Hi all
I have been following babypips for sometime now, and I was wondering if anyone is trading USDSGD ?
Maybe we could share our views on the possible directions that SDG will be taking since MAS will be making announcement this week?
cheers
Yep, been short the pair for a few weeks now and dont plan on exiting. I’m not sure about fundies but its still in a 2 year downtrend.
Yes, I can’t say that I trade it frequently - I don’t like it for intraday - but I am in a long-term Short. I entered last Autumn, then added to the position in December. It sort of has to rally at some point, but shows little sign right now, so I am staying short. It stalled towards the end of last month, I wonder if we will get some turnaround soon - the market might view 1.2500 as a psychological level and bounce Price back up - but I just trade what I see so am staying short. Could fall right through to parity!! This was a simple technical trade for me, following the trend, so I am afraid that I am no use to you for the fundamentals, either.
ST
Hi EmeraldEyes and Simon
I am in it too for long term trade. Living in Singapore, things are getting more expensive. With the headline inflation going up and elections coming, there may be slight possibility that MAS are going to widen the trading band this coming.
However, even without the widening I personally feel that USD is certainly tanking against SGD as SG starts opening up its financial sector with more financial instruments and having financial stability. There could be a demand for SGD.
This is my 2cent on usdsgd
Cheers
Thank you for the insight, very interesting to hear your perspective on it. Don’t tend to get much discussion of this pair on here, yet it has probably yielded some of my best trades, giving up a fair few end of day opportunities over the past few months that I have run alongside the underlying long-term trade. End of day, 1% risk, 1% target worked well for me, particularly in the latter part of 2010.
I don’t really look at USDSGD too often but I agree with the down trend and fundamentals point to holding for a few months more.
Question - for long term trades, do you hold a rolling daily position (open to the interest charges of the broker / carry trade)
or buy 3 month rolling contracts (some brokers offer this with a wider spread but no interest charges) or another way (futures?)
USD/SGD during the recent week was in a strong and consistent downtrend that Sellers were successful in achieving the lowest price of 1.05543. Right now price in time frames such as daily and H4 is above 5-day moving average and warns about price increase in medium period of time.Price has been stopped from more descend by reaching to the specified Up Trendline in the picture below and with exit of some Sellers from their trades at the end of 13th and 20th days(Weekly Chart), the Hammer and Inverted Hammer candlestick patterns have been created that shows the sellers retreat for reaching to the lower prices that it(bullish Signal) needs confirming with closing of an ascending candle.
According to the formed price movement, there is Bat harmonic pattern between the top price of 1.28270 and bottom price of 1.23603 that warns about changing price direction from the D point of this pattern.Stoch indicator with the ascending cycle confirms the fourth point of Up trendline and warns about the potential of ascending during the next candles.Generally until the formed bottom price on Up Trendline and D point of Bat harmonic pattern is preserved, there is the possibility of increase and ascend of price .
Technical Analysis of USD/SGD dated 2014.07.29
Forex Market News
USDSGD Technical Anlaysis (2014.07.29)
USD/SGD during the recent week was in a strong and consistent uptrend that buyers were successful in achieving the highest price of 1.31003.Right now price by reaching the R2 WPP and also by creating a peak price in 4H time frame has been stopped from more ascend. By forming a Hanging Man and engulfing candlestick pattern in mentioned top price, there is a potential for creating a top price and then descending.
As it is obvious in the picture below, there is a deep crab harmonic pattern between the bottom price of 1.28640 and the top price of 1.31003 that there is a potential for changing price direction from D point of this pattern.Ao indicator is in divergence mode with the price chart that confirms the current top price and warns about descending of price during the next candles.Generally until the top price level of 1.31003 is preserved, price will have the potential for reformation and descending.
Technical Analysis of USD/SGD Dates 2014.11.20
USD/SGD Technical Analysis
Technical analysis of USD/SGD dated 2015.01.07
USD/SGD during the recent months was in a strong uptrend that Buyers were successful in achieving the highest price of 1.35056.Right now price is above 5-day moving average in long term time frames such as monthly and weekly that shows a consistent uptrend in this currency pair.
As it is obvious in the picture below, Price has passed the Resistance Level(1.31950) and with being above 5-day moving average warns about more ascending.According to the current situation there is not any clear reason about descending of price in long term time frames and The least sign for descending of price is formation of a top price and recording of it in daily time frame.
…………………………………………………………………………………
Resistance 3 : 1.35858
Resistance 2: 1.34247
Resistance 1: 1.33360
Pivot Point (MN): 1.31683
Support 1: 1.30762
Support 2: 1.29118
Support 3: 1.28231
USD/SGD since 23.07.2014 was in strong and consistent uptrend with small price reformations. Buyers during this uptrend were successful in achieving the highest price of 1.3547.currently the price in Monthly , weekly and daily time frame is above 5-day moving average and warns the potential of ascending in long period of time in this currency pair.
According to the type of formed candles like Spinning Top Pattern and Shooting Star candlestick patterns in red color area(also Hanging Man in Daily Time Frame) warns about Vulnerability of uptrend and formation of a top price and decreasing of the price.As it is obvious in the picture below, there is ideal deep Crab harmonic pattern between the top price of 1.3547 and the bottom price of 1.3212 that there is a potential for ceasing of price from D point of this pattern.
According to the formed price movements, RSI indicator is in saturation buy area and in divergence mode with the price chart that confirms the top price of 1.3547 and warns about changing price direction.One of the important signs for descending is breaking of ascending trend line (made of 3 bottom prices). Generally according to the current situation in 4H time frame until the top price of 1.3547 is preserved, price will have the potential of descending but according to the potential of ascending in long period of time, the descending of price is temporary and unstable.
Technical Analysis of USD/SGD dated 2015.04.10
USD/SGD since the first days of this month with creating a bottom price(Piercing line pattern) of 1.3431 has started to ascend.Price during the downfall by reaching to the supportive edge of down channel has been stopped from more descending and right now the Sellers started to cash their trades.Price in daily time frame is above 5-day moving average and warns the potential of ascending of price during the next candles.
As it is obvious in the picture below, there is AB=CD harmonic pattern with ratios of 50 and 161.8 between top price of 1.3928 and the bottom price of 1.3431 that warns about changing price direction from the D point of this pattern.Currently there is not any clear reason for descending of price in daily time frame and the first warning for descending of price is formation of a top price and confirming of it in this time frame.
Have that pair on Hotforex, though never had a chance to test it. Spreads are relatively low, but what is particular in that pair? Any important fundamentals coming?
Have this pair on Hotforex, though never had a chance to test it. Spreads are relatively low, but what is particular in this currency pair? Any important fundamentals coming?