My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

5/11/2015

SGD USD meeting its objective

My last blog mentioned the USD will retreat against the SGD, and it did.

Fig 1 SGD USD Weekly

After 2 weeks of absent, it seems that The USD actually hurried down to the neckline of 1.314 and stopped by this level.

Further more, the indicators are reversing up again. So I guess it would be a good time to buy the USD rightnow to further strength the position.

Come to think of it, this pattern looks very much like SGD HKD but in reverse.Probably becase HKD and USD are pegged.