Hello,
The USDSGD is trading at the bottom of the corrective wave. As at today USD/SGD remained pressured, edging down 0.13% as markets awaited more clarity on both US trade policies and monetary policy outlooks in Asia, keeping SGD slightly firmer. The price of this pair is currently trading below the moving averages.
We see an opportunity for buys on this pair with targets at the middle and the top. A weaker US dollar is expected over the next 6-12 months as the Federal Reserve likely resumes rate cuts and interest rate differentials narrow. This should translate into further SGD strength and downside pressure on the USD/SGD pair, as investors capitalize on higher yields and potential capital gains from EM currencies like the Singapore Dollar. The Expected bullish zero crossover on the MACD is a further confirmation of the projected bullish move.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
The USDSGD is trading at the bottom of the corrective wave. As at today USD/SGD remained pressured, edging down 0.13% as markets awaited more clarity on both US trade policies and monetary policy outlooks in Asia, keeping SGD slightly firmer. The price of this pair is currently trading below the moving averages.
We see an opportunity for buys on this pair with targets at the middle and the top. A weaker US dollar is expected over the next 6-12 months as the Federal Reserve likely resumes rate cuts and interest rate differentials narrow. This should translate into further SGD strength and downside pressure on the USD/SGD pair, as investors capitalize on higher yields and potential capital gains from EM currencies like the Singapore Dollar. The Expected bullish zero crossover on the MACD is a further confirmation of the projected bullish move.
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Free stock markets analysis Telegram channel:
t.me/stocksfromtechnicaleye
Paid trading group
patreon.com/thesharkke
Reliable broker
go.tradenation.com/visit/?bta=37130&brand=tradenation
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.