💡Don't miss the great sell opportunity in GBPSGDTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (1.82170).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. GBPSGD is in a downtrend, and the continuation of the downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 35.
Take Profits:
TP1= @ 1.80773
TP2= @ 1.80184
TP3= @ 1.79490
TP4= @ 1.78665
TP5= @ 1.77790
SL: Break Above R2
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Gbp-sgd
A trading opportunity to buy in GBPSGDTrading suggestion:
There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (1.7190 to 1.7070). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.
. Beginning of entry zone (1.7190)
. Ending of entry zone (1.7070)
Midterm forecast :
While the price is above the support 1.7070, beginning of uptrend is expected.
We make sure when the resistance at 1.7720 breaks.
If the support at 1.7070 is broken, the short-term forecast -beginning of uptrend- will be invalid.
Technical analysis:
The ascending flag taking shape suggests we will soon see another leg higher.
The RSI bounced from the support #1 at 35 and it prevented price from more losses.
A trough is formed in daily chart at 1.7070 on 06/29/2020, so more gains to resistance(s) 1.7430, 1.7605 and maximum to Major Resistance (1.7720) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 49.
Take Profits:
TP1= 1.7430
TP2= 1.7605
TP3= 1.7720
TP4= 1.7855
TP5= 1.8080
TP6= 1.8275
TP7= Free
Don't miss the great buy opportunity in GBPSGDTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (1.6908). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. GBPSGD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 64.
Take Profits:
TP1= @ 1.7118
TP2= @ 1.7250
TP3= @ 1.7525
SL= Break below S2