The USD SGD relationship

I have started to watch the Forex ever since I started thinking about time deposit in foreign currencies. The irst was AUD, which I thought about before my family went or the tour. It has just started to rise at that time but we did not manage to catch the wave, and I did not have my data ready. I was depending on charts on some web-site which only have some basic tools or charting. Even then, the chart was showing AUD heading or SGD1.20 (before May 2009).

It is a little too late to enter this currency now and I started looking at other currencies. I am a little surprise that when most o them compared to SGD, they all seems to be heading south!


Fig 1 USD SGD Relationship

Just using USD SGD chart or instance, The USD has already reached the 50% retracement and is retreating from its latest high. At the moment it is taking a breather and probably creating a flag before heading further South (may be winter is coming to USA soon).



I have only used Stochastic for USD and I have placed in an experimental (for me) Gann Grid. Base on the stochastic, it is on the way up but is reversing, somehow indicating a possible drop. The chart has also reached a Gann Grid and thus a reaction is expected.



My estimate is that USD is going for a swing move to head for SGD1.37. If I am wrong and it still think North is better, it would rebounce to the 38.2% retracement mark of SGD1.54, ending the high for the formation o right shoulder of the Shoulder-Head-Shoulder formation. Then we should be looking at SGD1.25 per USD. May be it would be a good time to plan or a USA trip?