USD/SGD - Daily - Technical analysis published on 09/08/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
72%
11%
17%
My opinion
Bullish above 1.3561 SGD
My targets
1.3855 SGD (+0.0202)
1.4077 SGD (+0.0424)
My analysis
The bullish trend is currently very strong on USD/SGD. As long as the price remains above the support at 1.3561 SGD, you could try to benefit from the boom. The first bullish objective is located at 1.3855 SGD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 1.4077 SGD as an objective. Crossing it would then enable buyers to target 1.4401 SGD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. 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.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8
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Additional analysis
Quotes
The USD/SGD rating is 1.3653 SGD. On the day, this instrument lost -0.02% with the lowest point at 1.3617 SGD and the highest point at 1.3662 SGD. The deviation from the price is +0.26% for the low point and -0.07% for the high point.1.3617
1.3662
1.3653
Here is a more detailed summary of the historical variations registered by USD/SGD:
Near a new LOW record (5 years)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of USD/SGD in Daily shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
Technical indicators are strongly bullish, suggesting that the price increase should continue.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
RSI indicator: bearish divergence
Type : Bearish
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 2
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near resistance of channel
Type : Bearish
Timeframe : Daily
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 1.3368 | 1.3425 | 1.3561 | 1.3653 | 1.3855 | 1.4077 | 1.4401 |
| Change (%) | -2.09% | -1.67% | -0.67% | - | +1.48% | +3.11% | +5.48% |
| Change | -0.0285 | -0.0228 | -0.0092 | - | +0.0202 | +0.0424 | +0.0748 |
| Level | Minor | Minor | Major | - | Minor | Minor | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3616 | 1.3627 | 1.3641 | 1.3652 | 1.3666 | 1.3677 | 1.3691 |
| Camarilla | 1.3648 | 1.3650 | 1.3653 | 1.3655 | 1.3657 | 1.3660 | 1.3662 |
| Woodie | 1.3618 | 1.3628 | 1.3643 | 1.3653 | 1.3668 | 1.3678 | 1.3693 |
| Fibonacci | 1.3627 | 1.3637 | 1.3643 | 1.3652 | 1.3662 | 1.3668 | 1.3677 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.3367 | 1.3420 | 1.3473 | 1.3526 | 1.3579 | 1.3632 | 1.3685 |
| Camarilla | 1.3498 | 1.3508 | 1.3517 | 1.3527 | 1.3537 | 1.3546 | 1.3556 |
| Woodie | 1.3368 | 1.3420 | 1.3474 | 1.3526 | 1.3580 | 1.3632 | 1.3686 |
| Fibonacci | 1.3420 | 1.3460 | 1.3485 | 1.3526 | 1.3566 | 1.3591 | 1.3632 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 1.2997 | 1.3146 | 1.3328 | 1.3477 | 1.3659 | 1.3808 | 1.3990 |
| Camarilla | 1.3420 | 1.3450 | 1.3481 | 1.3511 | 1.3541 | 1.3572 | 1.3602 |
| Woodie | 1.3015 | 1.3154 | 1.3346 | 1.3485 | 1.3677 | 1.3816 | 1.4008 |
| Fibonacci | 1.3146 | 1.3272 | 1.3350 | 1.3477 | 1.3603 | 1.3681 | 1.3808 |
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): | 68.32 | |
| MACD (12,26,9): | 0.0047 | |
| Directional Movement: | 10.3469 | |
| AROON (14): | 28.5714 | |
| DEMA (21): | 1.3617 | |
| Parabolic SAR (0,02-0,02-0,2): | 1.3502 | |
| Elder Ray (13): | 0.0059 | |
| Super Trend (3,10): | 1.3486 | |
| Zig ZAG (10): | 1.3652 | |
| VORTEX (21): | 1.1843 | |
| Stochastique (14,3,5): | 95.00 | |
| TEMA (21): | 1.3634 | |
| Williams %R (14): | -5.24 | |
| Chande Momentum Oscillator (20): | 0.0131 | |
| Repulse (5,40,3): | 0.5547 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0456 | |
| Courbe Coppock: | 0.47 |
| MA7: | 1.3593 | |
| MA20: | 1.3570 | |
| MA50: | 1.3450 | |
| MA100: | 1.3436 | |
| MAexp7: | 1.3610 | |
| MAexp20: | 1.3557 | |
| MAexp50: | 1.3493 | |
| MAexp100: | 1.3468 | |
| Price / MA7: | +0.44% | |
| Price / MA20: | +0.61% | |
| Price / MA50: | +1.51% | |
| Price / MA100: | +1.62% | |
| Price / MAexp7: | +0.32% | |
| Price / MAexp20: | +0.71% | |
| Price / MAexp50: | +1.19% | |
| Price / MAexp100: | +1.37% |
Quotes :
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Real time data
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Forex
News
The latest news and videos published on USD/SGD at the time of the analysis were as follows:
-
USD/SGD and USD/ZAR Forecast May 17, 2022
-
USD/SGD and USD/ZAR Forecast February 28, 2022
-
USD/SGD and USD/ZAR Forecast February 9, 2022
-
USD/SGD "To Hit 2009 Highs"
-
USD/SGD Weakening Trend
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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