USDSGD is one of the interesting pairs to trade and analyze. Fundamentally the pair is susceptible to Chinese data , especially Chinese GDP. Latest data also show the raise of Singapore government bonds by 0.05 % while 10 year bond gained 0.02 %.
Technically the pair is bouncing off support and it is showing a retracement but both MACD and Price patterns show a bearish trend. H4 chart shows a bearish zig zag and X cross confluence in 1.3920 zone. H3 weekly PP, Inner trend line and historical selling show a possible retest where the price should reject towards 1.3780 and 1.3720. Stronger downtrend will be confirmed only if the pair drops below 1.3664 where it will target 1.3520.
The analysis and the article presents Nenad's opinion. Remember, financial trading is highly speculative & may lead to the loss of your funds. Proper risk management is the Holy Grail of trading.
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