Lousy Service Provider

*sigh* Donno what happened but not able to download the data for today. This time I am quite sure its the service provider fault. I am able to download from othe sites except the data which run on a special program.......Guess I won't be able to look at the charts today. Some time I really wonder the logic for the service provider ( Keyquotes in this case ) to shift it's operation to Malaysia. They don't seem to bother about new business at all, they are so reluctant to give me quotes for their data service on other markets.

So what to do? Let's look at USD.



Fig 1. USD Weekly chart

Well, this is not the best program for me to use to look at chart, but for the time being, it will have to do. This is actually from my broker GK Goh, not very fast but equip with sufficient indicators to work on.

I have been eying on USD for quite a while. My wife and I have invested in USD a few years ago for a length of 3 months and we managed to make a little profit of SGD1,000. 1/2 year ago she asked me whether we can go into USD again and I looked. What I saw was that USD has a minimum target at SGD1.55, so I suggest we waited. However, it seems like the unit tried to play trick on us, continued to hover between SGD1.57 and SGD1.60. It presently ends at SGD1.573.

It continues on the down trend, if we look at the chart, we can see that it still falls between the lower part of the channel. The RSI and Stochastic have strong reluctancy to move upward and the MACD's move is not spectacular in its positive region. I am seeing weakness in this counter.

The price itself is on the lower side of the congestion area. No real pattern is visible now and hence difficult to determine the next possible direction. I would still bet that it should at least head for SGD1.55. The formation it is creating at this moment seems to take on ABC pattern, so I feel that it is in the counter wave, so it will be likely to head south, which I think will go lower than SGD1.55. I kind of wonder what the world would be by then. But for the time being, I will sit on the fence and watch.