EURUSD, Gold and USDSGD. Situation between major central banks announcments

Tomasz Wiśniewski
Currencies Rate (1)

FOMC caused USD to weaken. The outcome of that is a buy signal on the EURUSD. This optimism is additionally supported by the double bottom formation, wedge pattern and a false breakout below the 1.173 support. What is more, we broke the 1.181 resistance and we are currently using that as a support. Buy signal at its finest.

Gold is using weaker USD to climb higher but this is only a correction. The target is the 1267 USD/oz. Higher levels should be used by sellers to open a short position with better prices. The major reversal here is currently less probable.

USDSGD traded very technically in the past few weeks. The price created two trend continuation patterns (a rectangle and a flag) and accurately respected horizontal supports and resistances (1.3575 and 1.3530). Sell signal is on with the potential target on the 1.339.

Don't miss a thing!

Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Latest Articles

See All

Expand Your Knowledge

See All

Top Promotions

Top Brokers