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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
Bullish
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in USD/CHF are long at 75.97%, while traders in France 40 are at opposite extremes with 79.75%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/c6Ej28vCYY
  • Chinese Holdings of US Treasury Securities (USD) Apr: $1.096T (prev $1.100T) Japanese Holdings of US Treasury Securities (USD) Apr: $1.277T (prev $1.240T)
  • June Consumer Sentiment bounces back and rises to 86.4 from 82.9, beating market expectations. Get your market update from @DColmanFX here:https://t.co/0pWQAS10hW https://t.co/Vv52HG7E9K
  • 🇺🇸 Overall Net Capital Flows (APR) Actual: $101.2B Previous: $146.7B https://www.dailyfx.com/economic-calendar#2021-06-15
  • 🇺🇸 Foreign Bond Investment (APR) Actual: $49.6B Previous: $118.9B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.24% France 40: 0.17% Germany 30: 0.10% US 500: 0.02% Wall Street: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/G1AEMGbvA5
  • archive of today's webinar posted and ready to go - Pre-FOMC $USD setups, scenario planning around $EURUSD $GBPUSD and $USDCAD, $Gold and $Oil towards the end. https://t.co/sF0WsbHhDi
  • The gold monthly opening-range is set just below confluence resistance – breakout to offer guidance. Get your $XAUUSD market update from @MBForex here:https://t.co/19rCMiLlxG https://t.co/HnGBusmOLG
  • Heads Up:🇺🇸 Overall Net Capital Flows (APR) due at 20:00 GMT (15min) Previous: $146.4B https://www.dailyfx.com/economic-calendar#2021-06-15
  • Heads Up:🇺🇸 Foreign Bond Investment (APR) due at 20:00 GMT (15min) Previous: $118.9B https://www.dailyfx.com/economic-calendar#2021-06-15
USD/SGD, USD/MYR May Turn Higher as USD/IDR, USD/PHP Eye Support

USD/SGD, USD/MYR May Turn Higher as USD/IDR, USD/PHP Eye Support

Daniel Dubrovsky, Strategist

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

  • US Dollar may be readying to turn higher against the Singapore Dollar
  • USD/IDR and USD/PHP appear to be aiming at familiar support again
  • Fading downside momentum undermines declines USD/MYR may see

We released our Q1 forecasts for currencies like the US Dollar in the DailyFX Trading Guides page

USD/SGD Technical Analysis – Bullish Reversal Threat Increases

The US Dollar seems to be preparing for a bullish push against the Singapore Dollar. On the USD/SGD daily chart below, I highlighted an inverse head and shoulders pattern which has been brewing after the pair turned lower last week as expected. This is considered as a bullish reversal formation. Prices have stopped their descent on the right shoulder at 1.35237. If this holds, the neckline could be targeted next at 1.36155.

As always, patterns require confirmation. If a daily close is achieved above 1.36155, the dominant downtrend since November 2018 could be at risk of reversing. On the other hand, a descent opens the door to testing 1.34562 which is the head of the candlestick formation. For updates on the ASEAN pairs that I am closely watching in the interim, you may follow me on Twitter @ddubrovskyFX.

USD/SGD Daily Chart

USD/SGD, USD/MYR May Turn Higher as USD/IDR, USD/PHP Eye Support

USD/IDR Technical Analysis – Rising Support Line Break

Initially, USD/IDR made upside progress last week as anticipated when I noted that downside momentum was fading. Since then, the pair has turned lower and broken through a rising support line from earlier this month. This has opened the door to resuming the dominant downtrend since November and has 14000 eyed as immediate support. A close under that exposes 13923. Meanwhile, resistance seems to be at 14215.

USD/IDR Daily Chart

USD/SGD, USD/MYR May Turn Higher as USD/IDR, USD/PHP Eye Support

USD/MYR Technical Analysis – Resistance Break Fell Short

Sometimes breaks above/below resistance/support don’t always result in continuation. This was the case with USD/MYR. Prices pushed through a falling trend line from January, climbing to resistance just under 4.0925. Since then, the Malaysian Ringgit appreciated as the pair fell to support at 4.0650. Positive RSI divergence does signal fading downside momentum which may precede another retest of resistance at 4.0925.

USD/MYR Daily Chart

USD/SGD, USD/MYR May Turn Higher as USD/IDR, USD/PHP Eye Support

USD/PHP Technical Analysis – Will Critical Support Hold…Again?

The Philippine Peso initially depreciated against the US Dollar last week as anticipated, highlighting the presence of positive RSI divergence. However, USD/PHP turned lower after key resistance held at 52.50. Fundamentally, recent declines seemed to be the result of dovish Fed commentary and a ‘risk on’ trading environment on Tuesday. This has created what appears to be a new descending range of resistance. Near-term support remains as an area between 52.00 and 51.93 which may again prevent a push lower.

USD/PHP Daily Chart

USD/SGD, USD/MYR May Turn Higher as USD/IDR, USD/PHP Eye Support

**All Charts Created in TradingView

Read this week’s ASEAN fundamental outlook to learn about the underlying drivers for these currencies!

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