Rene Remsik
Atlantis Capital Group
This currency pair is in a downtrend for a few years, but now we see an opportunity to profit on the rise. We expect AUDSGD to go up at least 100 pips, but maybe more. If you look at monthly/weekly timeframe, there is a strong support which withstood the pressure and now the market is going back up. AUDSGD is currently creating a formation double bottom (with small false-break) after we expect it to go to at least 0.985 and another profit target is 0.994. This bullish setup is also supported with divergence. Overall, all currency pairs with Australian Dollar looks bullish, so Australian Dollar should be strong in a next few weeks.
Recommended entry: 0.976, Stop-loss: 0.966, Take-profit: 0.985
All analyses, signals, and blogs showed above are written by René Remsik and represent opinions and views on financial markets by Atlantis Capital Group. Information we provide is mostly predictions and forward-looking statements which involve risk and may prove wrong in the future, so you should do your own research before making any decisions. Trading with leverage is risky and may cause a loss of 100% of the trading capital. All the articles wrote above are neither an offer nor a recommendation to purchase or sell any financial instrument. René Remsik is not a registered securities advisor and you are 100% responsible for all the decisions you make.
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