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4 Jan 2016
USD/SGD met with an upside nudge
A shooting star reversal seen on the USD/SGD daily chart is tipping traders off for a downside break.
The price rallied during the session, but pulled back to the bottom to close near the opening price.
Considering what's happening on 4-hour studies where the price structure has been at a considerable distance above it's 200-period SMA, the case for a retracement becomes highly compelling.
The price rallied during the session, but pulled back to the bottom to close near the opening price.
Considering what's happening on 4-hour studies where the price structure has been at a considerable distance above it's 200-period SMA, the case for a retracement becomes highly compelling.