SGDUSD trade ideas
USDSGD: Important Breakout & Bullish Continuation
Singapore Dollar broke above the resistance of a falling parallel channel.
The breakout was confirmed by 4H/1H candle close above.
After a retest of a broken line, we see a positive reaction and based on that I assume that the price will keep growing.
Next goals for buyers:
1.393
1.396
good luck!
The Singaporean dollar eyes the lower support levelThe Singaporean dollar eyes the lower support level and locks in with determination to drag the US dollar. Bearish investors are taking advantage of the risk sentiment in the global market that’s causing the safe-haven appeal of the US dollar to crumble in sessions. The US dollar to Singaporean dollar trading pair should continue its downward track in the market and eventually hit its lower support level later this month. However, the reopening of the economy amidst the rising number of cases leaves the Singaporean dollar very vulnerable. If things turn south, the Singaporean dollar could lose its grip against the US dollar. Just this Wednesday, the strong yet small country reported more than 450 new confirmed coronavirus cases including seven cases in the community. The preliminary daily update of the Singaporean Ministry of Health states that the number of confirmed coronavirus cases in the country is now around 38,965.
My predictions for USDSGD UpdateGood morning all. I just wanted you all to know that I've been stopped out from this trade w/my SL.I lost about $117. If i hadn't placed my SL then I'd have loss even more. It's very crucial to have SL in your trades.
I''m going to look for another pair to trade. And just so you know; I don't take trades twice with the same pair back to back.