USDSGD Poised for a Rebound

21 mar 2019

Moving averages suggest we have some more way to go down as we continue a strong downward trend. Moreover, the strength of this slide is notable. Resistance from February was broken as was resistance from January AND price action also broke a trend line from back in 2018. In spite of this, RSI and stochastic suggests we are poised for a rebound as both are flashing that this move was overdone. Let's see how it pans out or if this trend will continue. Keep in mind though, this is a short term long call. My apologies if I don't keep up and update the trade on time on here. Keep an eye on DXY as well as it looks like the dollar was hit across the board from the dovish Federal Reserve sentiment.

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