Trend for USD/SGD seems to be reversed and attempting to evidence a gap up opening.
The oscillating indicators RSI (14) signals upward strength as both RSI curve and price line evidence rising convergence.
Slow stochastic is also signifying the oversold pressure as %K line crossover below 20 levels.
Since we anticipate the uptrend in this pair, the At-The-Money delta call of USD/SGD value indicates the option's equivalent position in the underlying market.
ATM calls might be luring for many speculators or hedgers at this moment.
Let's suppose for instance, as shown in the diagram USD/SGD ATM call option with Delta +0.5 can be delta hedged by shorting 50,000 USD against SGD in the underlying FX market.