USD/SGD - 1H - Technical analysis published on 08/20/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
11%
72%
17%
My opinion
Bearish under 1.3077 SGD
My targets
1.3004 SGD (-0.0053)
1.2847 SGD (-0.0210)
My analysis
The bearish trend is currently very strong for USD/SGD. As long as the price remains below the resistance at 1.3077 SGD, you could try to take advantage of the bearish rally. The first bearish objective is located at 1.3004 SGD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 1.2847 SGD as an objective. Crossing it would then enable sellers to target 1.2365 SGD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
8
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This analysis was given by Scorpus. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
USD/SGD rating 1.3057 SGD. The price registered a decrease of -0.18% on the session and was traded between 1.3055 SGD and 1.3102 SGD over the period. The price is currently at +0.02% from its lowest and -0.34% from its highest.1.3055
1.3102
1.3057
A study of price movements over other periods shows the following variations:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
New LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of USD/SGD indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, according to the parameters integrated into the Central Analyzer system, 13 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : 1 hour
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.2365 | 1.2847 | 1.3054 | 1.3057 | 1.3077 | 1.3141 | 1.3187 |
| Change (%) | -5.30% | -1.61% | -0.02% | - | +0.15% | +0.64% | +1.00% |
| Change | -0.0692 | -0.0210 | -0.0003 | - | +0.0020 | +0.0084 | +0.0130 |
| Level | Minor | Minor | Intermediate | - | Intermediate | Minor | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2944 | 1.3011 | 1.3045 | 1.3112 | 1.3146 | 1.3213 | 1.3247 |
| Camarilla | 1.3052 | 1.3062 | 1.3071 | 1.3080 | 1.3089 | 1.3099 | 1.3108 |
| Woodie | 1.2929 | 1.3003 | 1.3030 | 1.3104 | 1.3131 | 1.3205 | 1.3232 |
| Fibonacci | 1.3011 | 1.3049 | 1.3073 | 1.3112 | 1.3150 | 1.3174 | 1.3213 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3004 | 1.3073 | 1.3116 | 1.3185 | 1.3228 | 1.3297 | 1.3340 |
| Camarilla | 1.3129 | 1.3140 | 1.3150 | 1.3160 | 1.3170 | 1.3181 | 1.3191 |
| Woodie | 1.2992 | 1.3067 | 1.3104 | 1.3179 | 1.3216 | 1.3291 | 1.3328 |
| Fibonacci | 1.3073 | 1.3116 | 1.3142 | 1.3185 | 1.3228 | 1.3254 | 1.3297 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3046 | 1.3200 | 1.3282 | 1.3436 | 1.3518 | 1.3672 | 1.3754 |
| Camarilla | 1.3298 | 1.3320 | 1.3341 | 1.3363 | 1.3385 | 1.3406 | 1.3428 |
| Woodie | 1.3009 | 1.3182 | 1.3245 | 1.3418 | 1.3481 | 1.3654 | 1.3717 |
| Fibonacci | 1.3200 | 1.3291 | 1.3346 | 1.3436 | 1.3527 | 1.3582 | 1.3672 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 28.79 | |
| MACD (12,26,9): | -0.0012 | |
| Directional Movement: | -21.9523 | |
| AROON (14): | -64.2857 | |
| DEMA (21): | 1.3062 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3088 | |
| Elder Ray (13): | -0.0014 | |
| Super Trend (3,10): | 1.3088 | |
| Zig ZAG (10): | 1.3057 | |
| VORTEX (21): | 0.8889 | |
| Stochastique (14,3,5): | 11.35 | |
| TEMA (21): | 1.3063 | |
| Williams %R (14): | -95.74 | |
| Chande Momentum Oscillator (20): | -0.0044 | |
| Repulse (5,40,3): | -0.0991 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0112 | |
| Courbe Coppock: | 0.36 |
| MA7: | 1.3157 | |
| MA20: | 1.3277 | |
| MA50: | 1.3412 | |
| MA100: | 1.3472 | |
| MAexp7: | 1.3065 | |
| MAexp20: | 1.3077 | |
| MAexp50: | 1.3103 | |
| MAexp100: | 1.3134 | |
| Price / MA7: | -0.76% | |
| Price / MA20: | -1.66% | |
| Price / MA50: | -2.65% | |
| Price / MA100: | -3.08% | |
| Price / MAexp7: | -0.06% | |
| Price / MAexp20: | -0.15% | |
| Price / MAexp50: | -0.35% | |
| Price / MAexp100: | -0.59% |
Quotes :
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Real time data
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Forex
News
Don't forget to follow the news on USD/SGD. At the time of publication of this analysis, the latest news was as follows:
-
USD/SGD Forecast July 17, 2024
-
USD/SGD Forecast July 11, 2024
-
USD/SGD Forecast June 4, 2024
-
USD/SGD and USD/ZAR Forecast May 17, 2022
-
USD/SGD and USD/ZAR Forecast February 28, 2022
This member declared not having a position on this financial instrument or a related financial instrument.
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