🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

USD/SGD Breaks Horizontal Key Support Level 1.2195

Published 12/04/2012, 06:12 AM
Updated 07/09/2023, 06:31 AM
USD/SGD
-

USD/SGD today broke the horizontal Key Support Level 1.2195 identified by Autochartist on the 4-hour charts. Autochartist rates the Significance of this Key Level at the 5 bar level – which corresponds to the 5 recent price reversals from this support (which can be seen on the Key Levels chart below).

This breakout is aligned with the predominant long-term downtrend visible on the weekly USD/SGD charts. The pair is expected to fall further in the direction of the Forecast Price 1.2153 – as can also be seen from the PowerStats chart shown below.
Dailyfx 1
As you can see from the following PowerStats chart for USD/SGD, the lower boundary of the daily Expected Price Range calculated by Autochartist for tomorrow (1.2151) nearly coincides with the Forecast Price calculated for the above Key Level Breakout (1.2153) – which adds to the probability that this currency pair will continue to decline toward 1.2153 tomorrow.
Dailyfx 2

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.