Thursday, May 31, 2012

USDSGD Analysis

Usdsgd managed to close above a significant resistance this week. We would expect price to retest this resistance turned support.

In H4, we can clearly see that usdsgd has been making higher highs and higher lows. We await for this pair to retrace down before buying. We would like to buy low isnt it? :)
The region mapped out appears to be a confluence zone, which further signifies where price is likely to turn. It happens to be the previous week high which acted as a resistance.

 Eyes on this pair now and just patiently waiting for price to retrace back down to the fibonaci level 50%.

Keep the pips coming!

No comments:

Post a Comment