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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EUR/CAD: Triangle or Rising Wedge?

The Euro versus the Canadian Dollar has formed what appears to be an ascending triangle or a rising wedge on the daily chart. In reality the name is the least important, what really matters is that we identify the borders of the consolidation and wait for the price to break one of those borders, which are actually two trendlines. A breakout to the downside could take the price to the round number level of the 1.3000, which could act as support, or a breakout to the upside could take the price to the 1.3500 level, which could act as resistance.

USD/SGD: Finally touches the 200 day EMA

Just as we analyzed it last week, the US Dollar versus the Singaporean Dollar continued dropping and reached its 200 Day exponential moving average, a little bit above the key support level of 1.3242. Apparently the price is stalling at that area and it is possible to see a bounce to the upside for the next couple of days. However, the 1.3417 level could become a good resistance from where the pair may stop its bullish bounce.

USD/SGD: Possible visit to the 200 Day EMA

On various occasions we have seen how the 200 day exponential moving average has acted as a very good support or resistance zone. On the US Dollar versus the Singaporean Dollar we can see how the pair has been in a very organized and sustainable retracement to the downside and it is currently getting very close to its 200 Day EMA. Attentive to a possible visit to that zone, because the price may try to bounce to the upside from there, especially when we see that a little bit below it there is an important support level at the 1.3242.

Moving average confluence on the NZD/USD

On various occasions we have seen how the 200 period exponential moving average acts as a very good support or resistance zone and at times the 55 period exponential moving average does the same thing. When these two moving averages coincide around the same zone on different time frames, the area becomes a very important support or resistance.

That is exactly what we are seeing on the NZD/USD on the daily and 4 hour charts. On the daily chart we can see that the price has gotten to the 55 period exponential moving average zone around the 0.7550 and it is currently trying to bounce to the upside from there.

On the 4 hour chart we can see that the zone of the 0.7550 level coincides very closely with the 200 period exponential moving average (blue line) and that is why that area has become a very strong support for the pair.

From this point on, the pair may try to go back up, but we must also be aware that the 0.7600 level could become a temporary resistance for the price.

NZD/USD: Another visit to the 200 day exponential moving average

The 200 period exponential moving average usually acts as a very good zone of support or resistance, especially on the daily chart. That is why we saw that the NZD/USD bounced to the downside on Friday from that moving average around the 0.7739 level (blue line) and today we can see that the price has gone back up to that level, but it is currently trying to stall there. Therefore, we must be attentive to a possible bounce to the downside from that zone, but we should also be on the lookout for a possible breakout, because usually those breakouts around that moving average also presents us with good trading opportunities to go long.