USD, AUD & NZD against SGD

I have not been bloggin for the last 2 days. Work at office is becoming more stressful because the need to perform. By this I mean my department as a whole. The company is always looking at each department as a business entity and they judge by profitability. The department dealing with R & D started up 3 years ago and as I have predicted, our honeymoon period is 3 years, by when the management expect harvest from its investment, otherwise, they will re-evaluate if this entity should continue to live on.



Fig 1 USD vs SGD Weekly Chart

The USD vs SGD chart looks promising, the candlestick completed a morning star and the probability of uptrend is high, this is also supported by both its RSI and Stochastic movements. The resistance for this counter is SGD1.4119, SGD1.4331.

A project of the pattern, in case of a double bottom or ascending triangle, the target is SGD1.4419.


Fig 2 NZD Vs SGD Weekly Chart

NZD vs SGD has completed a wedge and even broken out of its envelop. It is presently rebounded back close to its previous top before reversing. Base on its wedge formation, th target is SGD0.953556 per NZD.

The interesting part of this NZD is that the wave pattern reflects an ABC since its break out. I beleive there is a caution if one is to short this counter (not that you don't because the margin looks good).

Its 21 weeks moving average is supporting at 0.998435 while 89 weeks moving average at 0.969625. Both RSI and Stochastics are turning from top so we should be seeing it go down.


Fig 3 AUD vs SGD Weekly Chart

Similar to NZD, AUD has also completed a wedge, broken the seal and moved down. It has recently retraced to its previous high before coming back down. Again similar to NZD, it is having a 3 waves movement signifying counter wave. This is thus likely to be a correction.

The RSI and Stochasitc are both reversing from the top and supporting the down turn. However, its objective will still be higher than SGD1, more like SGD1.15197.

Its nearest support so far is the 21 weeks moving average at SGD1.2493.