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Trend of the Day: USD/SGD

By Gregory McLeod, Currency Analyst
25 September 2008 04:27 GMT

The US dollar up trend from the middle of July from the 1.3458 area up to the 1.4482 September 11th high has fallen some 240 pips before finding support at the 38.2% Fibonacci support level. Marked by a bullish Harami pattern, USD/SGD looks to re-challenge the 14482 level. Extreme dollar bearish sentiment could recoil this pair higher if and when the $700 billion financial system bailout is approved.

See the attached chart:

09.25.08 USDSGD Gregs trend for the day

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25 September 2008 04:27 GMT