FxWirePro: Go Long on USD/SGD Only Above 1.3823 With Stop Loss at 1.3752 and Target of 1.3972
24 May 2016, 05:18
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FxWirePro: Go Long on USD/SGD Only Above 1.3823 With Stop Loss at 1.3752 and Target of 1.3972
- USD/SGD is currently trading around 1.3809 marks.
- It made intraday high at 1.3816 and low at 1.3773 levels.
- Intraday bias remains bullish till the time pair holds key support at 1.3772 levels.
- A sustained close above 1.3823 tests key resistances at 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 1.3772 will drag the parity down towards key supports 1.3628 (55D EMA) /1.3548/1.3420 (April 13, 2016 low) /1.3357 (April 20, 2016 low) /1.3318/1.3302 levels.
We prefer to take long position in USD/SGD only above 1.3823, stop loss 1.3752 and target 1.3972 levels.
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