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.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
Wall Street
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
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • #Gold prices put in a major breakout last month and, so far, buyers have held the line. But a really big Fed meeting is on the calendar for this week. Can Gold bulls hold? Get your market update from @JStanleyFX here:
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here:
  • Top event risk for more than just the Dow and Dollar this week is the Wednesday #FOMC rate decision. What the markets expect sets the tone for how the event impacts price action. My run down of the week and Fed decision:
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here:
  • $GBPUSD continues to trade in ranges as volatility dwindles. UK data to play second fiddle to FOMC. Get your market update from @JMcQueenFX here:
  • Get your snapshot update of the of market open and closing times for each major trading hub around the globe here:
  • What's the difference between leading and lagging indicators? Find out from here:
  • 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:
US Dollar Forecast: USD/SGD, USD/IDR Nearing Trend-Defining Support

US Dollar Forecast: USD/SGD, USD/IDR Nearing Trend-Defining Support

Daniel Dubrovsky, Strategist

USD/SGD, USD/IDR, Singapore Dollar, Indonesian Rupiah - Talking Points

  • US Dollar losing ground to Singapore Dollar, Indonesian Rupiah
  • USD/SGD eyes rising support form 2018, will dominant trend hold?
  • USD/IDR has more progress to go in order to end consolidation

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

USD/SGD Technical Outlook

Despite softer Singapore CPI data on Wednesday, the SGD held its recent gains against the US Dollar. In fact, USD/SGD has just about reached the rising channel of support from January 2018. This area is the target after the pair broke under a Symmetrical Triangle pattern on the chart below. Prices have paused the descent at the key psychological barrier between 1.3609 to 1.3674.

A daily closer under would open the door to testing the rising channel of support which if taken out, paves the way for reversing the dominant downtrend. That would then place the focus on the next support level at 1.3516. This price is a combination of the April and June lows from earlier this year. Otherwise, a turn higher opens the door to testing 1.3658.

USD/SGD Daily Chart

US Dollar Forecast: USD/SGD, USD/IDR Nearing Trend-Defining Support

Zooming in on the Singapore Dollar 4-hour chart, I have highlighted a descending trend line from earlier this month – blue line below. In the event of a turn higher, keep an eye on this resistance. A confirmatory close higher could precede a near-term climb. That would eventually leave prices testing former support which may act as resistance as a range between 1.3707 to 1.3725.

USD/SGD 4-Hour Chart

US Dollar Forecast: USD/SGD, USD/IDR Nearing Trend-Defining Support

USD/SGD Charts Created in TradingView

USD/IDR Technical Outlook

Ahead of the Bank of Indonesia rate decision, where markets are anticipating a cut, the Rupiah has also enjoyed strength against USD. In fact, USD/IDR has been aiming lower ever since failing to push above the falling trend line from May – red line on the chart below. Prices took out a couple of areas of support on the way down. Still, the Indonesian Rupiah has more progress to make to signal a reversal of trend.

USD/IDR Daily Chart

US Dollar Forecast: USD/SGD, USD/IDR Nearing Trend-Defining Support

USD/IDR Technical Outlook

Zooming out to the weekly chart, USD/IDR’s main obstacle to extend its downtrend is the critical psychological barrier between 13848 – 13923. This is an area that has its beginnings from June 2018. A daily close that both sets new lows within this channel and manages to break below it would open the door to resuming the top in USD/IDR since September 2018. This would also be a breakthrough for volatility given the pair’s persistent consolidation since the beginning of this year.

USD/IDR Weekly Chart

US Dollar Forecast: USD/SGD, USD/IDR Nearing Trend-Defining Support

USD/IDR Charts Created in TradingView

FX Trading Resources

--- Written by Daniel Dubrovsky, Currency Analyst for

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.