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USD/SGD discussion

  • #1
  • First Post: Jan 9, 2018 8:32am Jan 9, 2018 8:32am
This pair can be fun to swing or trend trade. It can be slow moving like EUR/CHF.

For now, it looks like it found some support at 1.326 and it is now near 1.335. It may go on higher towards 1.343 and then 1.352 in the near term.

1.338 is probably the immediate resistance on the daily chart.
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Don't Worry Be Happy
  • #2
  • Jan 9, 2018 8:38am Jan 9, 2018 8:38am
I'm a Singaporean, so I most definitely do look at this pair. MAS (ie. central government of Singapore) likes a strong SGD. Overall, the long-term outlook for USD/SGD imo has limited upside and I am actually bearish bias.

Of course along the way there will be plenty of ups and downs, but for sure this is a pair I look at often!
  • #3
  • Jan 9, 2018 1:15pm Jan 9, 2018 1:15pm
Quoting MoneyFocus
I'm a Singaporean, so I most definitely do look at this pair. MAS (ie. central government of Singapore) likes a strong SGD. Overall, the long-term outlook for USD/SGD imo has limited upside and I am actually bearish bias. Of course along the way there will be plenty of ups and downs, but for sure this is a pair I look at often!
wouldn't the strength of SGD depend on what happens in the US with inflation or tax reform? SGD is like CHF because it is a "safe haven" due to the stability of the financial system
Don't Worry Be Happy
  • #4
  • Jan 9, 2018 1:25pm Jan 9, 2018 1:25pm
Quoting MrPresident
{quote} wouldn't the strength of SGD depend on what happens in the US with inflation or tax reform? SGD is like CHF because it is a "safe haven" due to the stability of the financial system
I'm not saying USD/SGD has no upsize, just that the government in Singapore wants SGD to be strong. You're right that Singapore/SGD is the "safe haven" of Asia. Singapore is able to attract people from China, Thailand, Indonesia, Malaysia, etc etc to deposit large amounts of money, thereby drumming up a demand for SGD as well. Singapore, given its small population, also has the desire to attract talents and workers from other countries; via more attractive wages, ie a stronger SGD will work wonders. Many Malaysians have flocked to Singapore because of this very reason.

My point is: The government of Singapore wants SGD to be strong.

Just my two pips. :o
  • #5
  • Feb 5, 2018 10:42pm Feb 5, 2018 10:42pm
SINGAPORE: The Singapore dollar began 2018 on a high note, with a rise to its strongest level against the USD.
The local currency was last seen trading at 1.3301 per US dollar, raising more 0.04 % to touch its highest level since May 2015.
Apart from a retreat in the US dollar, latest growth data giving a strong outlook for the Singapore economy added to the “positive spin” in the currency on the first trading day of 2018.
And the Government of Singapore wants SGD to be Strong.
For More Analysis Report, you can read the article: https://www.channelnewsasia.com/news...alysts-9815626
  • #6
  • Jul 19, 2020 10:56am Jul 19, 2020 10:56am
this pairs, I will add it to my watchlist.
I see an opportunity in it.
  • #7
  • Aug 19, 2024 6:10am Aug 19, 2024 6:10am
Where I'm looking to get short.
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  • #8
  • Aug 20, 2024 1:53am Aug 20, 2024 1:53am
Missed entry on this OB to short. Shoulda been @ screens earlier! No trouble, now have a pending sell limit. See if we get a second chance to sell.
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  • #9
  • Aug 21, 2024 12:21am Aug 21, 2024 12:21am
Quoting Saxoncapital
Missed entry on this OB to short. Shoulda been @ screens earlier! No trouble, now have a pending sell limit. See if we get a second chance to sell. {image}
This is why we need to be at the charts on time. Called it. Missed it. Played out perfect. 3R.
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  • #10
  • Last Post: Aug 21, 2024 1:35am Aug 21, 2024 1:35am
Tagged this time.
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