![]() Registered Address: 251 Little Falls Drive, Wilmington, DE 19808. FXP is not responsible for any trading decisions taken by persons not intended to view this material. ![]() Any examples given are provided for illustrative purposes only and no representation is being made that any person will, or is likely to, achieve profits or losses similar to those examples. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice. This information is made available for informational purposes only. Information presented by FXP should be construed as market commentary, merely observing economical, political and market conditions. residents or individuals domiciled in the U.S. Any and all information provided by FXP is not intended for use by U.S. We recommend that you seek independent advice and ensure you fully understand the risks involved before trading.įX Publications Inc., abbreviated herein as FXP, (d.b.a DailyFX) is no longer a registered Introducing Broker with the Commodity Futures Trading Commission and is no longer a Member of the National Futures Association in the U.S. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. The latter may reinstate the dominant upside focus. A turn lower would place the focus on the 20-day SMA as key support. Extending gains beyond that would open the door to facing the 100% level at 60.457. Prices broke above the 61.8% Fibonacci extension at 58.4106, exposing the 78.6% level at 59.3106. As such, prices continued to push above 2005 peaks. USD/PHP soared 2.48% last week, the best performance for the US Dollar since November 2010. It was the same story for the Philippine Peso. USD/THB Daily ChartĬhart Created in TradingView Philippine Peso Technical Outlook – Bearish In the event of a turn lower, the 20-day SMA could hold as support, maintaining the broader upside focus. There is negative RSI divergence, showing that upside momentum is fading since July. Beyond this price is the June 2006 peak at 38.61. Immediate resistance appears to be the 100% Fibonacci extension at 37.956. Prices confirmed a breakout above the 36.738 – 36.949 resistance zone, opening the door to extending gains. The US Dollar also soared against the Thai Baht this past week, with USD/THB gaining 2 percent. USD/SGD Daily ChartĬhart Created in TradingView Thai Baht Technical Outlook – Bearish The latter could reinstate the upside focus. In the event of a turn lower, there is some room to fall before the rising trendline from August kicks in. Confirming a breakout above the former could open the door to extending gains, exposing the April 2020 high at 1.4416. This has brought the currency pair to within inches of the April 22nd, 2020 high at 1.4329. USD/SGD climbed 1.81% in the best 5-day performance since March 2020. The US Dollar surged higher against the Singapore Dollar last week. Get My Guide Singapore Dollar Technical Outlook – Bearish
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