Wednesday, February 11, 2015
New Signal USD/SGD
*Signal Update: As of 02/13/2015 @ 7:11 EST The Global Currency Scalper has cancelled its order on this pair ahead of the weekend and any possible news from Greece. We will reevaluate on Sunday evening.
As of 02/11/2015 @ 20:35 EST:
We have identified USD/SGD as a possible long trade. As mentioned in one of yesterday's post we are not a fan of buying near tops or shorting near bottoms but this pair is making a compelling case if we can pay the right price. The USD/SGD has been in an uptrend since last September and has been in a defined channel since October 2014. Every pullback has been approximately 75 to 150 pips and we will be looking for a similar move. Bulls are on firm footing since taking out the resistance at 1.35700 and this supportive tone should continue for the foreseeable future.
The Global Currency Scalper will be looking to take a long position in USD/SGD with a pullback to 1.35260, if this pair does not pullback in the next couple of days we will be cancelling our order and further evaluation will be given. Targets are set at 1.36600 then the figure of 1.37000 beyond could see 1.37500. Our stop will be placed with a break of 1.34150 which is just below the lows set on the last pullback just about a week ago.