Singapore Dollar (SGD) ⇨ US Dollar ($) (SGDUSD) Latest Technical Analyst

Singapore Dollar (SGD) ⇨ US Dollar ($) (SGDUSD) Latest Technical Analyst
Singapore Dollar (SGD) ⇨ US Dollar ($) (SGDUSD) Latest Technical Analyst
Overall, the bias in prices is: Downwards.

Short term: Prices are moving.

Intermediate term: Prices are ranging.

The projected upper bound is: 1.40.

The projected lower bound is: 1.38.

The projected closing price is: 1.39.

Candlesticks

A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 3 white candles and 7 black candles for a net of 4 black candles. During the past 50 bars, there have been 25 white candles and 25 black candles.

A bullish harami occurred (where the current small white body is contained within an unusually large black body). During a downtrend (which appears to be the case with FOREX SGD=) this pattern implies an end to the decline as the bears appear to have exhausted themselves.

During an uptrend the bullish harami pattern is bearish as the bears appear to be gaining strength as the bulls weaken.

A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 15.4514. This is an oversold reading. However, a signal is not generated until the Oscillator crosses above 20 The last signal was a sell 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 37.29. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 109 period(s) ago.

Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -123.This is an oversold reading. However, a signal isn’t generated until the indicator crosses above -100. The last signal was a sell 6 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.

Rex Takasugi – TD Profile

FOREX SGD= closed up 0.002 at 1.387. Volume was 73% below average (consolidating) and Bollinger Bands were 12% wider than normal.

Open   High   Low    Close    Volume
1.386   1.389  1.385   1.387   9,474

Technical Outlook
Short Term:               Oversold
Intermediate Term: Bearish
Long Term:                Bearish

Moving Averages: 10-period     50-period     200-period
Close:                       1.40               1.40               1.40
Volatility:                6                     5                    7
Volume:                  26,399           27,249         35,309

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX SGD= is currently 1.0% below its 200-period moving average and is in an downward trend. Volatility is extremely high when compared to the average volatility over the last 10 periods. There is a good possibility that volatility will decrease and prices will stabilize in the near term. Our volume indicators reflect volume flowing into and out of SGD= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on SGD= and have had this outlook for the last 2 periods.

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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