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USDSGD technical analysis: Bears are lurking.

Conclusion for today’s USD SGD technical analysis: 

A bearish bias is favored in this analysis of the USD SGD, with the minimum expectation ~ 1.34692.

The 4 hour timeframe of the USD SGD is investigated in this analysis covering over 3 months of price action from December 27, 2018 to current date. Previous analysis of the USD SGD is provided here.

 

usd sgd

A symmetrical triangle is used to describe market action, specifically from January 24 2019 onwards. The implication of the chart pattern above is a stalemate between USD SGD bulls and bears, with eventual price resolution anticipated as either up, down or even sideways.

1.36143 to 1.34316 marks the width of the symmetrical triangle that can be projected onto breakout price level upon confirmation and/or resolution of price action out of the chart pattern, bullish or bearish.

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