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Currency analyst

USD/SGD: bulls don't lose their hope

On the USD/SGD daily chart,  "bulls" failed to storm the resistance at 1.3616 on the first try. Big player, who had opened short position in the second half of September, managed to repel this attack. Nevertheless, buyers, rekindling dreams of revenge, may decide to attack this resistance line again. 

 

On the USD/SGB hourly chart, "bears" managed to return quotes to the lower boundary of the rising trade channel. The rebound from the current position with attempt to test the 1,3616 level will activate the «Fakeout — Shakeout» and AB=CD patterns. There is a target near the 1,3568 level in the AB=CD pattern. 

Recommendation: BUY 1,3616 SL 1,3566 TP1 1,368 TP2 1,37

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