ForecastCity_ME

💡Don't miss the great buy opportunity in USDSGD

Long
OANDA:USDSGD   U.S. Dollar / Singapore Dollar
Midterm forecast:
While the price is above the support 1.3400, beginning of uptrend is expected.
We make sure when the resistance at 1.3885 breaks.
If the support at 1.3400 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
There is a divergence in RSI and price between the trough at 1.3549 on 2020-09-01 and the trough at 1.3512 on 2020-10-22, the probability of downtrend continuation is decreased and the probability of beginning of uptrend is increased.
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
A trough is formed in daily chart at 1.3510 on 10/22/2020, so more gains to resistance(s) 1.3550, 1.3675, 1.3785 and maximum to Major Resistance (1.3885) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 35.

Take Profits:
TP1 @ 1.3550
TP2 @ 1.3675
TP3 @ 1.3785
TP4 @ 1.3885
TP5 @ 1.4270
TP6 @ 1.4635
TP7 Free


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Comments

Great work! thanks
+1 Reply
ForecastCity_ME sofi_Morphy
@sofi_Morphy, You're very welcome!
Reply
ForecastCity_ME sofi_Morphy
@sofi_Morphy, We appreciate your comment.
Reply
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