USD/PHP Extends Fall, Uptrends Hold in USD/SGD, USD/IDR, USD/MYR

ASEAN Technical Outlook – USD/PHP, USD/SGD, USD/IDR, USD/MYR

  • Singapore Dollar gains ground against USD as expected, dominant uptrend still holds
  • USD/PHP confirms bearish reversal after final support barriers gave way, 52.80 next
  • Reversal warning signs in USD/IDR followed through, USD/MYR uptrend also intact

We released our 4Q forecasts for currencies like the US Dollar in the DailyFX Trading Guides page

USD/SGD Technical Analysis – Dominant Uptrend Still Holds

The Singapore Dollar gained ground against its US counterpart over recent days as anticipated. Fading upside momentum warned that USD/SGD’s next move could have been lower and indeed that was the case. The pair descended through a near-term rising support line from September. However, the Singapore Dollar appears to be caught right on a horizontal range of support between 1.37289 and 1.37451. A descent through that exposes a rising support channel from June which is keeping the dominant uptrend intact.

USD/SGD Daily Chart

USD/PHP Extends Fall, Uptrends Hold in USD/SGD, USD/IDR, USD/MYR

USD/PHP Technical Analysis

Article source: https://www.dailyfx.com/forex/technical/article/special_report/2018/11/07/USDPHP-Extends-Fall-Uptrends-Hold-in-USDSGD-USDIDR-USDMYR.html