USD/SGD Trading Analysis (06/12/2024)
The trend is up. The pair is trading in the range between 365 and 135 EMAs. The downward truncated wave structure ended with the breach of the descending channel. There is a bullish divergence on the Awesome Oscillator and the Stochastic Oscillator signals an oversold condition.
Trading idea:
- Buy on the breach of 1.3411.
- Stop-loss at 1.3377.
- Price targets at 1.3450 and 1.3477.
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