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
More View more
Real Time News
  • USD strength present throughout the NY session, but the US Dollar Index continues to find stiff resistance at the 94 level $USD $DXY https://t.co/nZFjtFbG4O
  • Euro is down more than 0.2% against the US Dollar since the start of the week with EUR/USD trading just above support heading into the European Central Bank interest rate decision tomorrow. Get your $EURUSD market update from @MBForex here:https://t.co/a9tikztYFj https://t.co/uztfGSoYvW
  • Nasdaq 100 is not sure whether it wants to close at a record high, but the NDX-SPX ratio has jumped sharply today on the tech index's 0.9% rally https://t.co/fUMvv9mtZ8
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Gold: 0.33% Silver: 0.05% Oil - US Crude: -0.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/1qRqMHuB6V
  • The recent AUD/JPY rally appears to be stalling below 86.000, with the pair relatively flat on the session $AUDJPY https://t.co/xfNKmmhJdq
  • #Euro Technical Forecast: $EURUSD Pressured into #ECB- Breakout Levels - https://t.co/RG2nfQrqsF https://t.co/ceYY2Dk1Eo
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.05%, while traders in USD/JPY are at opposite extremes with 73.98%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/j6NdfK7lpf
  • A day full of meetings and I've always had one eye fixed on this $GOOG rally. Last nights afterhours reticence didn't do this stock (and MSFT) justice. Impressive https://t.co/tEwaqSt5lm
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.29% US 500: 0.22% France 40: 0.19% Germany 30: 0.13% Wall Street: -0.16% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/aH5WxfeKWP
  • RT @DeItaone: *Natural Gas Jumps 4.3% to Session-High $6.134 Ahead of Contract Expiration
USD/PHP Uptrend Ahead? USD/SGD Aims for Range Ceiling, Breakout?

USD/PHP Uptrend Ahead? USD/SGD Aims for Range Ceiling, Breakout?

Daniel Dubrovsky, Strategist

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

  • USD/PHP may be readying up for a new uptrend next
  • USD/MYR uptrend is taking a break under resistance
  • USD/SGD aiming for range ceiling as USD/IDR rises

Trade all the major global economic data live as it populates in the economic calendar and follow live coverage for key events listed in theDailyFX Webinars. We’d love to have you along.

USD/PHP Technical Outlook

The Philippine Peso weakened against the US Dollar after support held above 51.59, sending USD/PHP prices reversing above a falling resistance line from the middle of March (red line on chart below). This occurred amidst a surge in crude oil prices on Iranian supply disruption fears. PHP is aiming for a close above near-term resistance at 52.12. If cleared and confirmed, this may open the door to testing 52.55 in the medium-term. Feel free to follow me on Twitter @ddubrovskyFXfor more timely updates on ASEAN currencies.

USD/PHP Daily Chart

USD/PHP Uptrend Ahead? USD/SGD Aims for Range Ceiling, Breakout?

USD/MYR Technical Outlook

Extensive weakness in the Malaysian Ringgit seems to have taken a pause. USD/MYR’s uptrend since late March was unable to clear the psychological barrier at 4.1448, as noted in last week’s outlook. This does come after confirming closes above the descending trend line from November (blue-dashed line below). Clearing resistance will be needed to confirm uptrend extension. But, the close under the near-term rising support line from early April (rising red line below) warns of a turn lower towards the next barrier at 4.1070.

USD/MYR Daily Chart

USD/PHP Uptrend Ahead? USD/SGD Aims for Range Ceiling, Breakout?

USD/SGD Technical Outlook

Meanwhile, the Singapore Dollar is coming under pressure from its US counterpart as USD/SGD remains in prolonged consolidation mode since the beginning of this year. Recent price action hints that the Singapore Dollar may weaken further towards range resistance at 1.36155. If cleared, this may overturn the dominant downtrend from November. Afterall, the pair has managed a close above the falling trend line from then (red line on chart below). Otherwise, near-term support appears to be at 1.3516.

USD/SGD Daily Chart

USD/PHP Uptrend Ahead? USD/SGD Aims for Range Ceiling, Breakout?

USD/IDR Technical Outlook

The Indonesian Rupiah appears to be aiming for another retest of the well-defined falling resistance line from December. This comes after near-term support at 14010 held, stemming USD/IDR declines after closing under the rising trend line from February (red-dashed line below). If resistance is broken, this may open the door to testing the psychological barrier just under 14340. Otherwise, support appears to be above 13848.

USD/IDR Daily Chart

USD/PHP Uptrend Ahead? USD/SGD Aims for Range Ceiling, Breakout?

**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