USD SGD

Okay, let's do a short and sweet one.

CI have been looking forward to this move for a long time with many misjudgement. I doubt that I would be wrong this round.

Fig 1 USD SGD weekly chart

This, my dear friend is the USD SGD chart. I once thought that it is reversing at SGD1.4+ level and real unfortunate that it went further down.

Since 2011 till beginning 2015, it formed a double bottom with objective of USD1.44. I estimated 2 weeks ago that it will retrace back from SGD1.40 (a triangle objective). It failed to reach SGD1.40 and retracing back to SGD1.36. I am now thinking that it would go further down to SGD1.32 which I the neck line of the double bottom. This before going back up to SGD1.44.