empty
 
 
13.01.2023 07:13 AM
Elliott wave analysis of USD/SGD for January 13, 2023

This image is no longer relevant

USD/SGD has broken below the S/H/S top neckline at 1.3266. If USD/SGD can close below that level for the week, the top-formation will be triggered for a continuation lower to 1.2098 and possibly even lower longer term.

The former support at 1.3266 will now act as resistance, but we can allow for USD/SGD to move a bit higher to resistance at 1.3455 without questioning the top formation.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback