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USD/SGD today 18/03: Bearish trend continues (diagram)

The USD/SGD shows the ability to test the support of the support, since the Bärische trend downwards duplicate and financial institutions apparently leaning to a weaker idea of ​​USD.

The USD/SGD is close to the price of 1,33100 at the time of this writing, whereby the currency couple showed the ability to question lower conditions in recent trading. The speculative downward track of the USD/SGD continues to show signs that the risk premium in the currency couple is cut off, since financial institutions may be willing to express more risk appetite.

The USD/SGD was recently traded below the level of 1.33,000, but the environment of 1,32850 has created some purchase price measures. Yesterday's early trade went under the 1,33,000 like last Wednesday. Financial institutions are certainly still nervous that the potential of President Trump's tariffs is spoken, but they also start to adapt to the noise, and will probably pursue a pragmatic approach for their prospects.

Federal reserve and upcoming behavioral mood

The USD/SGD was traded near the 1.34100 level on March 5, but the currency couple has shown a healthy resistance since then. The last time that the USD/SGD acted its current values ​​in the second week of November, the currency couple suffered from an upward trend from below the conditions of 1.31000 observed in October.

Dealers should not be excessively confident via the downward prices in the USD/SGD. Reversions are still a danger. The US Federal Reserve will submit your FOMC declaration tomorrow, but no change in interest rate policy is expected. In fact, the Fed will probably be quite careful with regard to its statements made. However, financial institutions have already said goodbye to the lack of interest rate reduction. What financial institutions want to know is what the view is, and this is the trillion dollars question in Forex.

Short-term USD/SGD speculation in Shadow of Fed

What will be important in the coming days will remain President Trump and how financial institutions react to his policy and rhetoric. The tariffs are still being discussed, but the reactions have started in Forex, and the USD has certainly become weaker.

The trend, which is lower in the USD/SGD, correlates with the wide market and if the 1.33000 levels can be broken and maintained, this would be fascinating, but it could be difficult to achieve at short notice.
In the coming days, the USD/SGD may remain chopped off, but in its lower price elements and wait for more drive systems when they change.
Day dealers should be careful in the next few days and be ready to test perceived technical support and level of resistance.
The trends lower appears sincerely, but could still cause problems if big players believe that the USD/SGD was oversold.

Singapore dollar short -term outlook:

  • Electricity resistance: 1,33140
  • Current support: 1,33065
  • High goal: 1,33350
  • Low goal: 1,32880

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