OctaFX | OctaFX Forex Broker
Open trading account

Abnormal but not unprecedented USD/SGD move

USD/SGD ADX(14) has just crossed above the key level 50, emerging from the low 30 levels in the previous session.

This event is abnormal but not unprecedented. It sets a scene from a positioning perspective where there is a big imbalance in the supply/demand equation, causing price to quickly search a new value zone.

While speeding up, it leaves behind unfilled sell orders which may cause prices to give back part of the impulsive move. The 200-SMA, now printing above the recent close, could be tested on an upside reaction.

AUD/USD reaches 2-week highs, RBA eyed

AUD/USD managed to briefly climb above the 0.7100 level on Monday, as the greenback underperforms following a much weaker than expected jobs report on Friday.
Read more Previous

Brazil: Finally showing some signs of resilience - BBH

Research Team at BBH, suggest that Brazil was likely oversold during the September panic that gripped most of EM but recent developments in both domestic and external, have helped Brazilian assets gain some traction, but it is a fragile balance and while the near-term looks more positive, the country’s fundamental problems and economic challenges are far from being resolved.
Read more Next
Start livechat