• Contact Us
  • Homepages
Most Forex
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
Most Forex
No Result
View All Result
Home Technical Analysis

US Dollar Breakouts Brewing? USD/SGD, USD/IDR, USD/MYR, USD/PHP

Forex Tips by Forex Tips
October 30, 2020
in Technical Analysis
0
US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


US Dollar, USD/SGD, USD/IDR, USD/MYR, USD/PHP – ASEAN Technical Analysis

  • US Dollar seeing mixed performance vs ASEAN FX
  • USD/SGD broke higher as USD/IDR diverged lower
  • USD/MYR eyes March trendline, USD/PHP may rise?

Singapore Dollar Technical Outlook

The US Dollar may be readying to extend gains against the Singapore Dollar after USD/SGD confirmed a break above a short-term falling trendline from September. The Singapore Dollar has also cleared the 50-day Simple Moving Average, confirming a breakout. However, USD/SGD faces its next test. A falling zone of resistance from June could maintain the downside bias ahead. Otherwise, a push through it exposes the 1.3760 – 1.3805 inflection range. Downtrend resumptions entails a drop through 1.3527 towards current 2020 lows.

USD Forecast

USD Forecast

Recommended by Daniel Dubrovsky

What is the road ahead for the US Dollar in Q4?

USD/SGD Daily Chart

US Dollar Breakouts Brewing? USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/SGD Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The Indonesian Rupiah could be setting itself up to extend gains against the US Dollar. USD/IDR recently formed a bearish ‘Death Cross’ after the 20-day SMA crossed under the 50-day one. This is also in the aftermath of breaking under a bearish ‘Rising Wedge’ chart formation. The pair seems to be setting up to test the 1425 – 14563 inflection zone. If taken out, that would open the door to testing support at 14342 next. Otherwise, a push above the SMAs exposes the 14915 – 14975 resistance zone.

USD/IDR Daily Chart

US Dollar Breakouts Brewing? USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/IDR Chart Created in TradingView

Malaysian Ringgit Technical Outlook

The Malaysian Ringgit technical outlook seems neutral against the US Dollar. USD/MYR recently broke above the 50-day SMA, though confirmation is lacking. Moreover, the falling trendline from March seems to be maintaining the focus to the downside. This could prolong USD/MYR’s consolidation since late August. Outer resistance seems to be at 4.1740 with layers of support below at 4.1350 followed by 4.1100. Clearing resistance exposes the 38.2% Fibonacci extension at 4.2086.

For updates on ASEAN currencies as they break key technical levels, be sure to follow me on Twitter @ddubrovskyFX.

USD/MYR Daily Chart

US Dollar Breakouts Brewing? USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/MYR Chart Created in TradingView

Philippine Peso Technical Outlook

The Philippine Peso remains in a consolidative setting against the US Dollar. USD/PHP nullified the breakout above falling resistance from March as it struggled to overcome the 50-day SMA. Now, the pair is retesting the important 48.28 – 48.36 support zone. That is what is standing in between it and from October 2016 lows. A breakout lower could open the door to testing the latter. Positive RSI divergence does show fading downside momentum which can at times precede a turn higher. That could place the focus on 48.82.

Forex for Beginners

Forex for Beginners

Recommended by Daniel Dubrovsky

Learn how to become a more consistent forex trader

USD/PHP Daily Chart

US Dollar Breakouts Brewing? USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/PHP Chart Created in TradingView

–— Written by Daniel Dubrovsky, Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter





Source link

Share76Tweet47

Related Posts

Technicals Point to Higher Prices

Gold Trading Soft, Silver Price Trying to Hold Important Support

by Forex Tips
March 4, 2021
0

Gold & Silver Price OutlookGold trading near the bottom of a would-be long-term bull-flagSilver price trading on March trend-line,...

Dow Jones, DAX 30, FTSE 100, S&P 500 Forecasts for the Week

Monthly Forex Seasonality – March 2021: ‘Dollars’ Mixed but Gold, Stocks Favor Weakness

by Forex Tips
March 3, 2021
0

March FX Seasonality Overview:In recent years, March has produced EUR/USD gains, losses by USD/JPY, gold, and stocks. It’s a...

Brexit Latest: British Pound Rallies as EU-UK Agreement Nears

British Pound Forecast: Digesting Gains Around Spring Budget

by Forex Tips
March 3, 2021
0

British Pound Outlook:After a strong run higher, the British Pound may be due for a period of pullback, if...

Canadian Dollar Forecast: Loonie’s Wings Clipped?

by Forex Tips
March 3, 2021
0

Canadian Dollar Outlook:Canadian Dollar Flies Through TurbulenceThe Canadian Dollar was hobbled last week, nearly falling through key technical levels...

Turn Lower Ahead as Momentum Fades?

Retail Trader Signals Hint to Proceed With Caution

by Forex Tips
March 3, 2021
0

Dow Jones, S&P 500, Technical Analysis, Retail Trader Positioning - Talking PointsIG Client Sentiment still warning that the Dow...

Load More

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos
Forex Pulse Detector

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos

Newsletter

  • Home
  • Contact
  • Privacy Policy
  • Store

© 2018 Forex Blog

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 Forex Blog.