Open trading account Community Blog
Singapore Dollar to Stay Put
I'm expecting the Singapore Dollar to stay put in October and here's why. First the pair made a 'near doji' candle in September. I say near because the open was at 1.3622 while the close was at 1.3619, not EXACTLY the same as required by the theory. But for a monthly chart, this is close enough.
The doji signals indecision in the market. Neither the bulls nor the bears could make any headway this month so we ended up right where we opened. Furthermore on our next chart below we can see that sinc…
The doji signals indecision in the market. Neither the bulls nor the bears could make any headway this month so we ended up right where we opened. Furthermore on our next chart below we can see that sinc…
More Losses for the USD/JPY
Last month we saw a doji pattern in the USD/JPY. This is usually an indecision pattern. But in this case the Doji has been followed by a large red bar. This breaks the stalemate and potentially signals that more losses are to come.
On the lower 4 hour timefame we can see that the pair has fallen by over 500 pips in the last two days alone. So not only do we have the medium-term trend heading down but so is the momentum.
The average monthly range for the USD/JPY is 479 pips but this of course is …
On the lower 4 hour timefame we can see that the pair has fallen by over 500 pips in the last two days alone. So not only do we have the medium-term trend heading down but so is the momentum.
The average monthly range for the USD/JPY is 479 pips but this of course is …