USD is moving up

My boss came to me today asked about the schedule for my trip, I told him that it would be Monday. He raised concern that I would only have today and tomorrow to prepare for the everything since Friday is a holiday. I don't know, it seems that he may not know me well enough. I always prepare in advance which makes me look a little like very eng eng cheng cheng most of the time.

Chapter 2 of Sunzi Art Of War clearly highlight the importance of preparation. Many have ignored such advice.

Well, he really needs to understand me a little more.


Fig 1 USD versus SGD Weekly Chart

The chart looks like a bottom formation and USD has broken ranks with the head and shoulders objective, it over penetrated the neckline and now doing what seems like either a reverse head and shoulders or double bottom. Either way, its good news, the difference is timing. Double Bottom is more immediate while reverse head and shoulders would mean another few months to wait.

Both formation have the objective of 14,833. The pattern would be confirm with crossing of neckline of14,240. I would at the moment not comment on the negative end which would be a rectangle continuation if the reversal patterns failed.