Good evening ladies and gentlemen
I hope it’s been a productive and prosperous week so far.
I have switched attention to the SGD which has made an aggressive Bearish move today to the tune of around 100 pips. It is now resting on the S level and is simply a matter of letting the Bulls and the Bears battle it out. The odds are stacked in favour of the Bears for this one as we should be more than be familiar with by now. A break of this level and further movement South and we should be ready to jump in for the ride using S1 or S2 most probably. Looking at the indicators both the daily and the weekly are below the 200MA. Stochastics is looking great on the Weekly but has yet to confirm a downtrend on the daily. All is not lost, however, as little brother does what big brother dictates!! Things are looking favourable for a Smart Money set up but the good old saying of “patience is a virtue” still holding water on this one.
With NFP out on Friday, you might want to trade with a little bit more caution if we do see further drops tomorrow. As always please do your own analysis.
I will leave you with this “Patience is the companion of wisdom.”
Total abundance is our Birth Right.
Zaheer Anwari
Tags: usdsgd
