USDSGD in a long term ascending channel, support is 1.2370, resistance 1.2450.
USDSGD bounced off the trendline support nicely, just recover from oversold conditions. On the daily, downsloping trendline still capping price. Apart from the doji formed on the 18/10, price has formed also a bullish engulfing pattern on the 20/10 and 21/10.
USDSGD looking like it might be trying to form a pattern, targeting 1.2765, 61.8 retracement of recent down move or 1.2950.
H4 we see that 9KAMA is supporting price now and price has come to retest broken trendline. Long here with stops below the most recent low. Targeting 1.2765 at least.
On the weekly, USDSGD in a channel. Midline will be 1.2765, top of channel 1.2950.
Long small size here, look to add on break of 1.2450.
1st objective R:R = 1: 6.5.
2nd objective R:R = 1:9.9.
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