• 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 Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

Forex Tips by Forex Tips
July 2, 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/PHP, USD/MYR – ASEAN Technical Analysis

  • US Dollar may rise against ASEAN FX, 20-day SMAs eyed
  • Gains in USD/SGD may result in testing key trend line next
  • USD/IDR and USD/MYR may follow as USD/PHP bottoms

Singapore Dollar Technical Outlook

The Singapore Dollar remains in range-bound trade against the US Dollar as USD/SGD consolidates between support (1.3872) and resistance (1.3993). The pair is appearing to push slightly above the 20-day simple moving average (SMA). Upside confirmation could spell a cautiously bullish technical tilt for the pair to come. Further gains from here could see prices test falling resistance from March’s top – red line. Otherwise, downtrend resumption entails a close under the June low at 1.3805.

Forex for Beginners

Forex for Beginners

Recommended by Daniel Dubrovsky

Learn how to become a more consistent forex trader

USD/SGD Daily Chart

US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

USD/SGD Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The Indonesian Rupiah could be at risk ahead. That is because USD/IDR recently took out falling resistance from April – red line – while also pushing above the 20-day SMA. That has exposed former highs from May 2019 which could stand in the way as resistance in the 1484 – 14525 area. Do keep in mind however that the Bank of Indonesia is closely watching the exchange rate as it sees IDR as undervalued. Weakness in the Rupiah could see the central bank step in to alleviate deep selling pressure.

Find your trading personality and optimal forms of analysis

USD/IDR Daily Chart

US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

USD/IDR Chart Created in TradingView

Philippine Peso Technical Outlook

The Philippine Peso could suffer despite USD/PHP recently descending to the 2018 low at 49.73. The pair has left behind positive RSI divergence which is a sign of fading downside momentum. At times, this can precede a turn higher. Such a move could see the pair pressure key falling resistance from March – red lines. This could reinstate the key downtrend since then. With that in mind, further declines in USD/PHP from here has prices eyeing the 38.2% Fibonacci extension at 49.49. Just below sits the midpoint at 49.21.

Top Trading Lessons

Top Trading Lessons

Recommended by Daniel Dubrovsky

How can you overcome common pitfalls in FX trading?

USD/PHP Daily Chart

US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

USD/PHP Chart Created in TradingView

Malaysian Ringgit Technical Outlook

The US Dollar may gain against the Malaysian Ringgit after USD/MYR pushed above the 20-day SMA. However, this may not mean that the pair may see a key change in trend. Falling resistance from March – red line – could reinstate the downtrend. The pair also has to climb through the 4.2930 – 4.3030 inflection range. If these points of resistance are taken out, that would expose the May high at 4.3660. Otherwise, downtrend resumption would entail closing under key support (4.2350 – 4.2450).

USD/MYR Daily Chart

US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

USD/MYR 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

USD/CAD BoC Breakdown– Loonie Levels

by Forex Tips
January 20, 2021
0

Canadian Dollar Technical Price Outlook: Near-term Trade LevelsCanadian Dollar updated technical trade levels – Daily & Intraday ChartsUSD/CAD carves...

S&P 500, Dow Jones & Nasdaq 100 Charts – Continuing to Channel Higher

S&P 500, Dow Jones & Nasdaq 100 Charts – Continuing to Channel Higher

by Forex Tips
January 20, 2021
0

U.S. Indices Technical Highlights:S&P 500 continues to work its way higher within a channelDow Jones treading water in record...

AUD/JPY, EUR/JPY Poised to Gain Ground

by Forex Tips
January 20, 2021
0

Japanese Yen, AUD/JPY, EUR/JPY, JPY Technical Analysis, IGCS – Talking Points:Inverse Head and Shoulders bottom hints at further gains...

Loonie’s Wings Clipped? Levels for CAD/JPY, USD/CAD

by Forex Tips
January 19, 2021
0

Canadian Dollar Forecast Overview:The Canadian Dollar has struggled to recapture bullish momentum as FX markets continue to rebalance US...

New Zealand Dollar Technical Analysis: AUD/NZD, NZD/JPY, NZD/USD

by Forex Tips
January 19, 2021
0

New Zealand Dollar, AUD/NZD, NZD/JPY, NZD/USD, Technical Analysis – Talking Points:NZD/USD eyeing a push to key support at the...

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.