Thursday, April 30, 2015
Breakout and pullback on the USD/SGD
The
breakout and pullback pattern is very trustworthy when it happens around a key
support or resistance zone like a round number level or the 200 day exponential
moving average as shown on the daily chart of the US Dollar versus the
Singaporean Dollar. On the chart we can see that the price broke below the 200
Day EMA and today it has pulled back to that same level around the 1.3278. If
there is a bearish bounce from that zone, then the price may try to get to the
round number level of the 1.3100, which could become a good support for the
pair.
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Great assessment of the trade.
ReplyDeleteI fully agree with your analysis.
ReplyDeleteThank you for the analysis, I will keep it in mind!
ReplyDeleteI am totally agree with you.
ReplyDeleteExcellent analysis.
ReplyDeleteVery good post. Thank you very much!
ReplyDeleteVery useful information! Thanks.
ReplyDelete