USDSGD: The top could be in, or close

14 Mar 2015

There's a distinct possibility that we will see either a major correction or a larger scale reversal in this pair, in 3 weeks or sooner, according to the methodology that I use, which is time at mode.
For the channel enthusiasts, we got an intermediate term downtrend channel top upper barrier above, in the area of very strong resistance, which I derive from my own techniques (not the channels or fibonacci, but what Tim West taught me).
This pair is under constant central bank control, since it's a managed float, and based on the technical elements I suspect they will shrink the exchange rate fluctuation band soon.

I'll update once I see a clear short setup with defined risk and reward variables, and a high probability.
Hope everyone has a good weekend, cheers!
Ivan.

2 Eki 2015

İşlem kapandı: hedefe ulaştı

To the pip, and right on time.