Money, money , money

I have recently bought a DVD (legal version) on Mama Mia the movie and I enjoyed it so much that I have watched it 10 times! It is not the ABBA songs alone that attract me, the movie is also about mother and child relationship, it is also about love, how there is a closure to a 20 years relationship. The movie is not at all boring, in fact part of it is quite a funny comedy. There is this part where Meryl Streep sang "Money, Money, Money" which reminds me that this is what we are doing all the time.

Speaking of money, I was looking at a few Forex as compared to SGD. Below are the charts:



Fig 1 AUD Vs SGD Weekly



Fig 2 CAD Vs SGD Weekly



Fig 3 EUD Vs SGD Weekly



Fig 4 NZD Vs SGD Weekly



Fig 5 USD Vs SGD Weekly

The few currencies that I saw (with exception of USD)have actually used around 2 years for a top formation and broken the necklines. Most of them completed the double top. AUD for instance even met its minimum objective and went back to break the neckline up-ward. EUD on the other touched the neckline and back off, still contemplating when it will cross that very line. Canadian Dollars have not really reached its objective but went back and broke the neckline, this is similar as NZD which barely broke the neck line.

However, as I read the chart today, it seems to me that all these currencies are at exhaustion. AUD for instance did a Doji Star followed by a Marubozu. NZD done a bearish meeting lines. CAD confirmed Engulf for bearish indication. And EUD, er...EUD actually did not indicate any pattern that I know of yet. However, the other indicators such as Stochastic and RSI so far comply with the chart pattern, all indicating bearish tendency.

As I mentioned earlier on, USD was an exception to SGD. It was already down last year and presently its RSI and Stochastic indicators are at the bottom poising for an upward movement. Seems like USD might be trending up while others moving south.

However, I hae to bare in mind that this is the middle of the week and I am predicting base on an unfinished candle stick.