USDSGD Testing Final Support Level

Trade Background:

Price moved to test final support level after FOMC last week on Wednesday. Now that price is stabilizing, look for a potential bullish reversal. Especially considering that the Fed is still considerably more hawkish can the Singaporean central bank. In which, they’ve become more and more dovish more the year as the country struggle to stimulate growth. On another note, the Singaporean dollar also has exposure to trade wars.

Chart:

Trade Idea:

Entry: 1.35200 – 135600
Stop loss: 1.35000

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