FxWirePro: Prefer to go long on USD/SGD around 1.3568 with stop loss at 1.3513 and target of 1.3799
USD/SGD is currently trading around 1.3575 marks. It made intraday high at 1.3585 and low at 1.3557 levels. Intraday bias remains bullish till the time pair holds initial support at 1.3513 marks. A sustained close above …
It made intraday high at 1.3585 and low at 1.3557 levels.
Intraday bias remains bullish till the time pair holds initial support at 1.3513 marks.
A sustained close above 1.3615 will test key resistances at 1.3660, 1.3732, 1.3799, 1.3836, 1.3851(March 16, 2016 high), 1.4073 (20D EMA) and 1.4132(20D, 30D and 55D EMA crossover).
On the other side, a daily close below 1.3552 will drag the parity down towards key supports at 1.3513/1.3488/1.3452/1.3391/1.3347/1.3313/1.3302/ 1.3271 levels.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
We prefer to go long on USD/SGD around 1.3568 with stop loss at 1.3513 and target of 1.3799.
