News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Bearish
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/qnQ8Cx0DKv
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here: https://t.co/lgDf5cVYOn https://t.co/RJLpBgS43V
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/6GrWzkOouM
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/lIUxpfSem3
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/8kBulRFd6l
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here: https://t.co/ZNs4Qi8ieG https://t.co/6u52PuzIaY
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/rHDy0XNZjQ
  • (Weekly Outlook) Australian Dollar Outlook: AUD/USD Divergence With Wall Street Risks Continuing #AUD $AUDUSD #Fed #Stocks https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2021/06/12/Australian-Dollar-Outlook-AUDUSD-Divergence-With-Wall-Street-Risks-Continuing.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/ryxG0fHmzd
  • The US Dollar steadied against most ASEAN currencies this past week. Key support levels remain in play looking at USD/SGD, USD/THB and USD/PHP. USD/IDR may rise with a new trendline. Get your market update from @ddubrovskyFX here:https://t.co/bpr5ZlKIcE https://t.co/0pskmzXZHi
  • EUR/USD has been looking toppy since late May as bearish technical signals played out. But, rising Euro short bets from retail traders hint that the currency may hold its footing. Get your market update from @ddubrovskyFX here:https://t.co/fAZijmQVqh https://t.co/pXICvFE007
USD/MYR, USD/IDR and USD/PHP Prices May Fall on the Daily Charts

USD/MYR, USD/IDR and USD/PHP Prices May Fall on the Daily Charts

Daniel Dubrovsky, Strategist

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

  • USD/MYR’s rise since April at risk as November 2016 trend line halted gains
  • USD/IDR, USD/PHP and USD/MYR also face decreasing upside momentum
  • Near-term rising support caught USD/SGD, next leg higher on daily chart?

Check out our 3Q forecasts for currencies like the US Dollar in the DailyFX Trading Guides page

USD/SGD Daily Chart – Trend Line Support Holds

In recent days, US Dollar prices have been losing ground to their Singaporean counterpart. But the uptrend in USD/SGD on the daily chart remains intact, supported by a rising trend line from June. If the trend in the Singapore Dollar holds and the pair climbs, it may find itself retesting 1.3745 which has at this point acted as both resistance and support over the past couple of months. Otherwise a descent under the rising line exposes the July 9th low at 1.3528.

USD/SGD Daily Chart

USD/MYR Daily Chart – Declines Ahead?

On a daily chart, USD/MYR prices have broken under a rising channel that has kept the pair in an uptrend since April. Curiously this occurred as the pair failed to push above a long-term falling trend line from November 2016 as upside momentum fell. The latter is present given negative RSI divergence. With that in mind, the Malaysian Ringgit may appreciate against the US Dollar ahead or perhaps consolidate.

In the event USD/MYR falls on the daily chart, December 2017 horizontal resistance could act as new support at 4.0925. A descent through that then exposes the 38.2% Fibonacci extension at 4.0837. On the other hand, the US Dollar appreciating against the Malaysian Ringgit through the trend line exposes the 61.8% extension at 4.1293.

USD/MYR Daily Chart

USD/IDR Daily Chart – Bearish Reversal Warnings

Upside momentum continues fading on the daily chart of USD/IDR given the presence of negative RSI divergence. Another shooting star bearish candlestick pattern warns that US Dollar prices could lose ground to the Indonesian Rupiah. This could pave the way for the pair to fall under the August 21st low of 14,555 which then exposes the near-term rising trend line from late June. Meanwhile, immediate resistance appears to be around the August 15th high of 14,646.

USD/IDR Daily Chart

USD/PHP Daily Chart – August Lows Eyed

USD/PHP prices on the daily chart have broken under a near-term rising support line from the beginning of August. Like the Indonesian Rupiah and Malaysian Ringgit, negative RSI divergence here also warns that Philippine Peso prices may appreciate against the US Dollar next. With that in mind, immediate support appears to be the 14.6% minor Fibonacci extension level at 53.11 followed by the August lows at 52.80. Near-term resistance in USD/PHP seems to be the June 2006 high at 53.59.

USD/PHP Daily Chart

Read this week’s ASEAN fundamental outlook to see how forecasts compare with respective technical analysis!

**All Charts Created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Junior Currency Analyst for DailyFX.com

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES