Alerts

US Greenback Outlook Hinges on Reversal Patterns Versus SGD, INR, MYR

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.

Try my overview of the Singapore Greenback to get acquainted with its distinctive traits in foreign exchange

USD/SGD Each day Chart

US Dollar Outlook Hinges on Reversal Patterns Versus SGD, INR, MYR

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

US Dollar Outlook Hinges on Reversal Patterns Versus SGD, INR, MYR

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.

To remain up to date on elementary developments for ASEAN currencies resembling SGD and INR, you could comply with me on Twitter right here @ddubrovskyFX

USD/MYR Each day Chart

US Dollar Outlook Hinges on Reversal Patterns Versus SGD, INR, MYR

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

US Dollar Outlook Hinges on Reversal Patterns Versus SGD, INR, MYR

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


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