USDSGD ready to test recent lows?

Good day all,

I am still waiting for equity charts to show me a definite sign of a rebound. Either the short recovery we are seeing is just a dead cat bounce or we have truly seen the end of panic selling. Anyways, I have a chart of the currency pair USD/SGD for today.

After making a historic low of 1.1988 on the 27th of July, the USDSGD shot up momentarily. If you are a huge believer of the trend is your friend, then the surge was a fantastic opportunity for a short position. The USDSGD went all the way up to the 1.22 region, before breaking down. Now, the rate is 1.2041. This is a testing point for the USDSGD. Let us see how things go in the days ahead. Chances are, the USDSGD will break through the recent low and set new records.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

 

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