USD/SGD and USD/PLN: Levels, Ranges, Targets

Current USD/SGD, Singapore Dollar trades at 1.3099 and is a great currency pair to hit targets as it trades steady as AUD/USD or NZD/USD. Current USD/SGD is oversold and trades at the bottom of its range.

Match Sing – Apore against MYR, the Malaysia Ringgit as SGD/MYR then the famously named Sing / Ring currency cross is created.

Bottom of the range means not only 1.3092 and 1.3087 but bottom of a multi year range. Long is the only direction as shorts are impossible. The big break point for longs to see USD/SGD higher is 1.3197 and a break targets many and massive resistance points at 1.3300’s starting at 1.3303 and up to the 5 and 10 year averages at 1.3357 and 1.3368.

Longs must trade to 1.3181 yet must cross above 1.3141, 1.3158, 1.3171 then 1.3184. Overall, higher in USD/SGD represents a correction as price remains below 1.3762 and 1.3606.

The long trade despite resistance and 50 ish pips involved is forced upon USD/SGD as it lacks ability to travel lower

Last post reported EUR/JPY top at 133.11, it held at 132.90. GBP/JPY dead stopped at 152.09 and as mentioned GBP/JPY had to trade back to 152.76 and it traded to 152.68. GBP/USD mentioned had to trade back to 1.4233 from 1.4172 lows and it traded to 1.4246.

To know a target price is to know how to trade a price and this is completed by either hold to target or trade multiple times in the direction of the target.

A far better long trade is USD/PLN from its current 1.3635 price. As in USD/SGD, the long in USD/PLN represents a correction higher as long as price remains below 3.3927 and 3.4213.

Above 3.4213 targets 3.4314, 3.4435, 3.4739 then wide open to 3.5069 and challenge to the 5 year average at 3.5471.

Target on the long is 1.3719 and just shy of the next vital break point at 3.3816. Overall, current range is located from 3.3535 to 3.3816.

Brian Twomey

GBP/JPY, NZD/JPY, MXN: Levels, Ranges, Targets

More pairs not in contention is GBP/AUD as this pair is stuck between 1.8699 to 1.8262 and currently trades at 1.8412. GBP/NZD shorts lack all consideration but rather its in buy drop mode especially at 1.9253 and 1.9188. EUR/NZD fully informs any long on drop strategies as price holds above 1.6848 and 1.6883 however 1.6910 becomes the target and above 1.6910 evolves into a short only scenario. EUR/NZD is set and ready to rise back to its last reported point at 1.7082 but this assumes NZD/USD falls much lower in correction mode.

CAD/ZAR dropped today to 9.5510 from 9.5602 yesterday for 92 pips and fully explains EUR/USD’s 1.2351 to 1.2397 range. CAD/ZAR lacks a big move as it ranges from most vital break points between 9.6368 to 9.4853. Longer term, CAD/ZAR trades beteen its 5 and 10 year averages from 10.1419 to 8.8829. CAD/ZAR informs EUR/USD will remain in range mode for a long time in the future.

Ongoing trades remain EUR/CAD, GBP/CAD and long held AUD/NZD. EUR/CAD achieved a +80 pip gain so far and remains a current short. Lower 1.7800’s, upper 1.7700’s for GBP/CAD then out while AUD/NZD requires a further AUD/USD correction then out near 1.0665. AUD/JPY from RBA’s 83.06 low trades 83.43 and heading to 83.75.

From JPY cross pairs, EUR/JPY 133.11 remains the top while CAD/JPY and AUD/JPY trade in slow grind mode.

GBP/JPY faces rough resistance at 153.23, 153.33 and 153.99 as the current upside move remains a large correction especially below 159.80 and 160.39. Above 153.99 then next comes 154.75 and not likely to be seen anytime soon as GBP/JPY drivers at 145.90 and 150.83 are far overbought. Sell rallies is the way forward overall.

Solid supports are located at 150.89 and 150.83. Overall GBP/JPY is a 310 pip range from 150.89 to 153.99 . GBP/JPY requires a correction to 152.27 but not much further as 151.04 remains the vital line to hold 150.89 and 150.83 from its break. Quick trade is the best GBP/JPY offers unless GBP/USD falls into correction mode. Look for quick longs at 151.04 to target again 152.27.

As of writing 152.29 achieved so long to 152.76 is the way today while GBP/USD trades back to 1.4233. Today is free trade day.

NZD/JPY must break for lower to target 77.87 is located at 78.79 and 78.49. Above 78.79 then 79.94 is in deck.

USD/MXN trades between 17.88 to its vital break point at 18.44 to then target above at 18.71, 18.77 and 18.88. Below 17.88 then next comes 16.81.

CAD/MXN next break above to target 14.62 and 14.79 is located at 14.54. Above 14.79 becomes a short only strategy as CAD/MXN trades at the top of its range.
Brian Twomey