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Technical analysis of USD/SGD dated 2015.01.07

USD/SGD during the recent months was in a strong uptrend that Buyers were successful in achieving the highest price of 1.35056.Right now price is above 5-day moving average in long term time frames such as monthly and weekly that shows a consistent uptrend in this currency pair.

As it is obvious in the picture below, Price has passed the Resistance Level(1.31950) and with being above 5-day moving average warns about more ascending.According to the current situation there is not any clear reason about descending of price in long term time frames and The least sign for descending of price is formation of a top price and recording of it in daily time frame.

 

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Resistance 3 : 1.35858

Resistance 2: 1.34247

Resistance 1: 1.33360

Pivot Point (MN): 1.31683

Support 1: 1.30762

Support 2: 1.29118

Support 3: 1.28231

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Written by the technical team of PipSafe Company

USD/SGD Chart

 

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