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Singapore Dollar Near Long-Term Average

fxsurprise8 Posted 31 Mag as Analysis on USD/SGD, Target: 1.3832, Date: 3 di Luglio, 12:00 GMT  in #Technical analysis #SGD #USD #USD/SGD #50 Retracement #Singapore Dollar #Moving Average #Range Bound #Fibo Retracement #365 Moving Average
The Singapore Dollar is trading near its long-term moving average. On the chart below we can see two things, a Fibonacci retracement tool spanning the most recent swing high and low on the daily chart and a 365 period moving average.
The Fibonacci tool shows us that we're currently trading in between the 50 and 61% retracement, very close to the middle ground of the move during the past 12 months. Two, the 365 MA (in blue) is right now at 1.3858, only 26 pips away from the current price for USD/…
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EUR/PLN Still Inside Five-Year Range

fxsurprise8 Posted 30 Set as Analysis on EUR/PLN, Target: 4.2963, Date: 1 di Novembre, 12:00 GMT  in #Technical analysis #PLN #EU #Euro #Poland #50 Retracement #Range #EUR/PLN #Range Bound #Polish Zloty
The EUR/PLN continues to trade inside a five-year range. Since the start of 2011 this pair has moved without a clear trend or direction. We opened 2012 at 4.4464 and we're currently quoted at 4.2964, only 3.37% away. This is a negligible amount for four years and 9 months of trading.
On the lower time-frames things aren't looking great for momentum traders either. Notice how directionless ranges prevail here as well. Another reason why am I betting on the pair staying near the current price is t…
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fxsurprise8 31 Ott

The EUR/PLN is now trading at 4.3095 (bid), a distance of only 0.31% from my target price at 4.2963.

The total monthly range in this pair has been 861 pips,with a high at 4.3020 and a low at 4.2585. While in pips this seems high, in percentage terms this is only 2 percent.

Price movements have range-bound as well. After we opened the month at 4.3020 first we fell a low of 4.2585, then rallied to a high of 4.3446, before falling back close to the opening price (now at 4.3095).

In short the month has been slow, with prices trading in a range that's inside the bigger range noted above.

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fxsurprise8 1 Nov

Let's do another update and this time we'll add some charts as well. On the picture above we can see an updated version of our chart.

Notice how the monthly range during October fits neatly inside the larger congestion area this year. And that range is inside the 5-year congestion that started back in 2012.

With prices now quoted at 4.3123, only 0.37% away from my target , betting on prices staying range-bound is showing to be a good bet. There's still some time left in the contest and with the momentum during the past 24h tilting toward the downside, a more accurate forecast seems likely.

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fxsurprise8 2 Nov

Time for a final update! According to the charts at 12:00 the pair was trading at 4.3143. This is 0.41% away from my 4.2963 forecast. Likely not good enough for 1st but depending on the accuracy of others, it could lend me a spot near the top.

See the chart above that demonstrates why my forecast worked so well. October is shown by a rectangle. Notice how the 2% range we had this month is within the bounds of the red lines.

The two red lines mark this year's range for EUR/PLN. And this year's range in within the congestion area that started back in 2012. This area is marked with black lines.

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