Published on 9/11/2017 by www.smartinvestorinc.com
Source: IT-Finance as of 9/11/2017
The USD/SGD Pair could be testing their downtrend line established since the start of 2017. A breakout point will be around 1.365 and we will need a close from the daily chart to affirm a breakout. A potential target after the breakout will be the 1.376 level.
At the moment it is consolidating between 1.36 to 1.365 region. A daily close below 1.358 level would derail this potential bullish setup.
From the fundamental angle, US is likely to carry on their rate hike policy thou in a measured manner. Dec 12-and 13 will be the next Federal Reserve Meeting whereby a rate hike will be expected.
The information contained in this publication is provided to you for general information only and is not intended to nor will it create/induce the creation of any binding legal relations. The information or opinions provided do not constitute investment advice, a recommendation, an offer or solicitation to subscribe for, purchase or sell the investment product(s) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on this information. Investments are subject to investment risks including possible loss of the principal amount invested. The value of the product and the income from them may fall as well as rise.
You may wish to obtain advice from a financial adviser before making a commitment to purchase any of the investment products mentioned herein. In the event that you choose not to obtain advice from a financial adviser, you should assess and consider whether the investment product is suitable for you before proceeding to invest.
Any views, opinions, references or other statements or facts provided in this publication are personal views and shall disclaim any liability for damages resulting from errors and omissions contained.