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USD/SGD sellers alleviate upside pressure

USD/SGD traders could soon see a period of short-term weakness on an intraday basis, allowing for some severe overbought studies to unwind.

The 50 SMA is above the 200 SMA on the hourly chart, at a distance superior to the daily ATR. This indicates an up-trending condition.

Longer-term traders following the 4H stochastic above 50%, don’t necessarily need to liquidate their long positions, but the 1-hour stochastic is increasingly hinting that it could be necessary soon.

The oscillator has build a plateau above the 70% level for more than eight hours and has just abandoned overbought territory with the recent hourly close. This is a warning of a potentially important short-term top.

EUR/SEK's volatility soars

EUR/SEK's volatility soars
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GBP/USD: key events taking place this week - Scotiabank

Analysts at Scotiabank explained that this week’s primary domestic risks lie with Tuesday’s speech from Gov. Carney, Wednesday’s final GDP for Q2, and Thursday’s manufacturing PMI.
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