USDSGD reversal

If USDSGD does not go lower than 1.410 next week, it should stage a slow recovery possibly to 1.435-1.440 region towards late March.

Commento:

As expected, USDSGD did not break 1.410 support level and is trending up. It is attempting to break the 1.415 resistance level and if it does, it will reach to 1.422 before retreating down. If not, it may form a head a shoulder, going down some more before heading back up.

That being said, all bets are off with FOMC meeting happening in the next 48 hours.

Commento:

Looks like the flag is formed. Will we get an impulse?

Trade chiuso: stop raggiunto:

FOMC rate hike did not help USGSGD breakthrough 1.415 as I've hope; instead, it completed a libra pattern and headed downwards as I feared.

Hope everyone either made money or had your SL kicked in.

Case closed.