Tag Archives: USD/SGD
Asian Currencies Technicals
AUD/USD: 2012 lows now the overall focus. Break below parity to start the week fell just short of a retest of the 21 day MA with lower levels now favoured until the pair can manage a close above the $1.0077-1.0140 resistance region.
Asian Currencies Technicals
AUD/USD: Daily tech studies correcting lower. With the pair pausing ahead of initial support, the $0.9996 level will be key to start the week with focus now on tests of the 21 day moving average.
Technical Analysis (Short Cycle Report): Gold rolling over
Gold is in the early stages of its next big wave down. As long as USD1,641 continues to hold as resistance the probabilities that the crucial USD1,522 support is broken remain high. Cable looks particularly vulnerable to losses, stock markets are cycling lower and the 10-year Bund yield is at a strong resistance zone.
Asian Currencies Technicals
AUD/USD: Sharp rejection from topside failure. Failure at the $1.0226 key resistance level combined with o/b daily tech studies has seen initial focus shift to tests of the $0.9904-22 region and then 2012 lows ($0.9584) below.
Technical Analysis: Short Cycle Report: Oh dear Gold
Gold sports a potentially bearish wave structure that could see the crucial USD1,522 support level broken. The 10-year Bund yield has strong resistance at 1.64%, the USD is marking time before another leg higher and stock markets are on the cusp of another wave down.
China GDP numbers disappoint, sending risk into reverse
The Chinese economy grew at a slower pace in the first quarter of this year, growing 8.1 percent y/y, its slowest pace of expansion in almost 3 years. The growth rate was below the consensus of +8.4 percent and much lower than Q4’s 9.2 percent rate, and also was far off the 9 percent-plus rumour […]
The dollar hits resistance on profit-taking ahead of the weekend
Profit-taking into the weekend was the order of the day during the Asian session, with the USD struggling to make further gains after its two-day rally. On the data front, headline Singapore non-oil domestic exports staged a mighty rebound in February, rising 30.5 percent y/y versus consensus estimates of +16.2 percent after a strong performance […]
Technical Analysis: Let the big dog eat
The US Dollar, sometimes known as “the big dollar” continues to build momentum for a sustained move higher. Corrections should be bought. The low Bollinger Band width in US T-bonds is resulting in the anticipated volatility breakout – watch 2.08% in the 10-year very carefully. Stocks continue to walk up the down escalator as gains […]
Technical Analysis: Ding ding
For technical analysts, it’s not the news that matters; it is how the markets react to the news that counts. We have been warning that the markets are poised for a “risk-off” phase and the price action over the next few days should provide valuable evidence to see if the bell has been rung on […]
Technical Analysis: Aussie uptrend weakening
The first signs of a crack in the AUD-USD uptrend are coming through. Five waves down on the hourly chart warn of further losses to come. Gold also has a bearish wave structure and USD-TRY is poised for an upward reversal. Open interest in S&P 500 futures is falling despite the rally, warning that a […]
Technical Analysis: USD-TRY at strong support
USD-TRY is at a strong support zone with a high risk of an upward reversal. Gold has broken down from its ending diagonal and the structure of the initial fall suggests more weakness to come. Stocks are at the upper limits of the bear market rally from October but EUR-USD may have another short-term rally […]
SGD ANALYSIS
The SGD was higher late in Asia as regional currency markets received a boost from slightly improved risk sentiment and better-than-expected data on the country’s gross domestic product.