USD/SGD, USD/INR, USD/MYR, USD/PHP – Speaking Factors
USD/SGD could climb on symmetrical triangle USD/INR may decline on descending triangleUSD/MYR nonetheless in danger to go and shoulders
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USD/SGD Technical Outlook
The US Greenback could also be carving out a Symmetrical Triangle continuation sample in opposition to the Singapore Greenback. On the USD/SGD every day chart beneath, this formation would entail the resumption of the dominant uptrend since July given an in depth above the ceiling of the triangle. This resistance space goes again to the August peak the place the subsequent space of resistance awaits the foreign money pair round 1.3906 – 1.3942.
Take a look at my overview of the Singapore Greenback to get acquainted with its distinctive traits in foreign exchange
USD/SGD Each day Chart
USD/SGD Chart Created in TradingView
USD/INR Technical Outlook
In the meantime, the Indian Rupee continues to carve out a Descending Triangle bearish reversal sample in opposition to the US Greenback. After final week, the ceiling of the sample was strengthened as USD/INR was unable to climb above it on a number of events. If resistance holds and paves the best way for a take a look at of the ground, a draw back breakout could reverse upside good points from June. A every day shut above the formation would invalidate the setup.
Learn this week’s ASEAN basic outlook to be taught extra concerning the dangers of US-China commerce talks
USD/INR Each day Chart
USD/INR Chart Created in TradingView
USD/MYR Technical Outlook
The US Greenback continues to be in danger to draw back stress from the Malaysian Ringgit amid a Head and Shoulders bearish reversal sample in USD/MYR. The suitable shoulder is holding at a spread between four.1950 and four.2000. A every day shut above this space would invalidate the setup. In any other case, if resistance holds, that exposes the September low at four.1630 earlier than potential rising assist from March.
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USD/MYR Each day Chart
USD/MYR Chart Created in TradingView
USD/PHP Technical Outlook
In opposition to the Philippine Peso, the US Greenback is seeing consolidation slowly flip into promoting stress after USD/PHP topped in August. Costs are sitting simply above key assist which is a spread between 51.59 and 51.69. If this space holds, that will place consolidation again in focus because the foreign money pair appears to retest descending resistance. It is a channel going again to the August highs – crimson parallel traces beneath.
USD/PHP Each day Chart
USD/PHP Chart Created in TradingView
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— Written by Daniel Dubrovsky, Forex Analyst for DailyFX.com
To contact Daniel, use the feedback part beneath or @ddubrovskyFX on Twitter