SGDCNH moving towards possible rebound zone on Daily Chart
Technical analysis:
1. price is approaching the year low level of 4.8627, buyers might get in at this level
2. Divergence between RSI and price is the indication that rebound will happen soon. We just don't know when.
Fundamental analysis:
1. Singapore is a small country. I lived there for 8 years and almost everything needs to be imported. So the government manages exchange rates to hedge the inflation risk. So SGD can't be too cheap.
2. The covid-19 got well contained in SG. Today is the 10th consecutive day of no local cases. As the economy started to go back to normal, it will strengthen SGD.
1. price is approaching the year low level of 4.8627, buyers might get in at this level
2. Divergence between RSI and price is the indication that rebound will happen soon. We just don't know when.
Fundamental analysis:
1. Singapore is a small country. I lived there for 8 years and almost everything needs to be imported. So the government manages exchange rates to hedge the inflation risk. So SGD can't be too cheap.
2. The covid-19 got well contained in SG. Today is the 10th consecutive day of no local cases. As the economy started to go back to normal, it will strengthen SGD.
plan your trade and trade your plan
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
plan your trade and trade your plan
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.