USD/SGD, USD/INR, USD/MYR, USD/PHP – Speaking Factors
USD/SGD might climb on symmetrical triangle USD/INR may decline on descending triangleUSD/MYR nonetheless in danger to move and shoulders
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USD/SGD Technical Outlook
The US Greenback could also be carving out a Symmetrical Triangle continuation sample towards the Singapore Greenback. On the USD/SGD every day chart beneath, this formation would entail the resumption of the dominant uptrend since July given an in depth above the ceiling of the triangle. This resistance space goes again to the August peak the place the following space of resistance awaits the foreign money pair round 1.3906 – 1.3942.
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USD/SGD Each day Chart
USD/SGD Chart Created in TradingView
USD/INR Technical Outlook
In the meantime, the Indian Rupee continues to carve out a Descending Triangle bearish reversal sample towards the US Greenback. After final week, the ceiling of the sample was bolstered as USD/INR was unable to climb above it on a number of events. If resistance holds and paves the best way for a take a look at of the ground, a draw back breakout might reverse upside features from June. A every day shut above the formation would invalidate the setup.
Learn this week’s ASEAN elementary outlook to study extra in regards to the dangers of US-China commerce talks
USD/INR Each day Chart
USD/INR Chart Created in TradingView
USD/MYR Technical Outlook
The US Greenback continues to be in danger to draw back stress from the Malaysian Ringgit amid a Head and Shoulders bearish reversal sample in USD/MYR. The appropriate shoulder is holding at a variety between four.1950 and four.2000. A every day shut above this space would invalidate the setup. In any other case, if resistance holds, that exposes the September low at four.1630 earlier than potential rising assist from March.
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USD/MYR Each day Chart
USD/MYR Chart Created in TradingView
USD/PHP Technical Outlook
In opposition to the Philippine Peso, the US Greenback is seeing consolidation slowly flip into promoting stress after USD/PHP topped in August. Costs are sitting simply above key assist which is a variety between 51.59 and 51.69. If this space holds, which will place consolidation again in focus because the foreign money pair appears to be like to retest descending resistance. It is a channel going again to the August highs – purple parallel strains beneath.
USD/PHP Each day Chart
USD/PHP Chart Created in TradingView
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— Written by Daniel Dubrovsky, Forex Analyst for DailyFX.com
To contact Daniel, use the feedback part beneath or @ddubrovskyFX on Twitter