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FinancialGamblR

AUDSGD - Upside Momentum Picking Up

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Australian Dollar / Singapore Dollar (FOREXCOM:AUDSGD)  
FinancialGamblR  
FOREXCOM:AUDSGD   Australian Dollar / Singapore Dollar
Support and Resistance Candlestick Analysis Multiple Time Frame Analysis AUDSGD Forex trading analysis daytrading priceaction trend breakout
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supportandresistance candlestick mtfa audsgd forex trading analysis daytrading priceaction trend breakout
The Singapore dollar appears to be weaker against several pairs. I believe the "cleanest" setup is on the AUDSGD pair, but this signal also exist on the EURSGD pair as well.

  1. Price makes a new lower low.
  2. Price fails to push to new lows, confirming that the previous low point holds up.
  3. The third test and failure of forming a new lower low is a good indication that selling pressure has weakened.
  4. Momentum to the upside picked up last Friday going into the weekend. In addition, I'm beginning to see a moving average formation, which is a further indication that momentum to the upside is picking up.

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FinancialGamblR
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