Hi everyone!
Following a disappointing Non-Farm payroll report on Friday, USD pared recent gains and we are currently seeing a pullback on USDSGD. On the technical front, prices broke its previous high and descending trend line and is currently pulling back to our entry zone.
Reason for these levels: The entry zone is also a support area that has been respected by price previously, where we saw a strong bounce above this area. On top of that, this area also coincides with fiboancci confluence levels and we could see a further upside from here.
Our take profit targets are based off the graphical levels where price rejected previously, with the second take profit target in line with the -27.2 fibonacci retracement. Stop loss is placed slightly below the latest low we have on the H4 time frame.
Following a disappointing Non-Farm payroll report on Friday, USD pared recent gains and we are currently seeing a pullback on USDSGD. On the technical front, prices broke its previous high and descending trend line and is currently pulling back to our entry zone.
Reason for these levels: The entry zone is also a support area that has been respected by price previously, where we saw a strong bounce above this area. On top of that, this area also coincides with fiboancci confluence levels and we could see a further upside from here.
Our take profit targets are based off the graphical levels where price rejected previously, with the second take profit target in line with the -27.2 fibonacci retracement. Stop loss is placed slightly below the latest low we have on the H4 time frame.
Trade fermée: cible de profit atteinte
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Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.