USDSGD: Good chance to go long

15 апр. 2016 г.

I reccomend going long USDSGD, both with a 3 times the daily ATR stop loss, as well as a tighter stop below 1.3506.
There seems to be evidence of a bottom forming here, and we can expect a sharp rally to fire soon, and resume the long term uptrend in this pair.
Fundamentals favor a turn, or at least a mejor retracement and a sideways market.

"The Singapore economy is projected to expand at a more modest pace in 2016 than envisaged in the October policy review. (...)
MAS will therefore set the rate of appreciation of the S$NEER policy band at zero percent, beginning 14 April 2016. This is not a policy to depreciate the domestic currency, and only removes the modest and gradual appreciation path of the S$NEER policy band that was in place." - from the MAS' minutes.

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Cheers,

Ivan Labrie.

17 апр. 2016 г.

Сделка активна

Looks good.

18 апр. 2016 г.

Заметка

Quite a steep retracement, if it doesn't progress, we could add to the longs.

19 апр. 2016 г.

Сделка закрыта вручную

I closed yesterday, seems like one more leg down in oil correlated pairs.

3 мая 2016 г.

Сделка активна

Finally safe to go long again. You can use a stop 1/3 this size too.