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
EUR/USD
Mixed
Oil - US Crude
Mixed
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
Wall Street
Mixed
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • $EURUSD Daily Pivot Points: S3: 1.1629 S2: 1.1694 S1: 1.1718 R1: 1.1783 R2: 1.1825 R3: 1.189 https://www.dailyfx.com/pivot-points?ref=SubNav?utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇨🇭CHF: 0.51% 🇨🇦CAD: 0.39% 🇪🇺EUR: 0.38% 🇳🇿NZD: 0.04% 🇬🇧GBP: -0.12% 🇯🇵JPY: -0.36% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/qEABm6nDyn
  • US Treasury Yields: 2-Year: 0.159% 3-Year: 0.188% 5-Year: 0.299% 7-Year: 0.496% 10-Year: 0.671% 30-Year: 1.369% $TNX
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Silver: 2.87% Gold: 0.40% Oil - US Crude: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/9zzrCQMv2s
  • S&P 500 price is within striking distance of hitting all-time highs as stocks continue to rally. Get your market update from @RichDvorakFX here: https://t.co/pKvJ9wv9VY https://t.co/kkbBSDDVo8
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 95.94%, while traders in US 500 are at opposite extremes with 78.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/Ycy6nhUEDm
  • Indices Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.09% US 500: -0.02% Wall Street: -0.07% France 40: -0.14% FTSE 100: -0.32% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/6KHC1wW7Wo
  • Ugly numbers but (always a but with data), June monthly GDP +8.7% gives hope.... https://t.co/CYevGpL7g5
  • Fed's Daly: #Fed committed to making inflation goal of 2% - BBG
  • With the S&P 500 just topping its all-time record high and the 10YR Treasury yield up again now to 67-bps, yesterday's selloff in stocks looks more like it had to do with margin calls related to the sharp reversal in precious metals.
US Dollar Technical Forecast: USD/SGD, USD/IDR, USD/MYR, USD/PHP

US Dollar Technical Forecast: USD/SGD, USD/IDR, USD/MYR, USD/PHP

2020-07-16 03:00:00
Daniel Dubrovsky, Analyst
Share:

US Dollar, USD/SGD, USD/IDR, USD/MYR, USD/SGD – ASEAN Technical Analysis

  • USD/SGD may fall as prices clear 20-day SMA, will support hold?
  • USD/IDR could rise after pushing above the 50-day & 20-day SMA
  • USD/MYR eyeing June lows, USD/PHP idling around 2017 floor

Singapore Dollar Technical Outlook

The Singapore Dollar is pressuring the lower boundary of its consolidative range against the US Dollar, opening the door to a bounce or breakout. This floor in USD/SGD sits at 1.3872 with the ceiling at 1.3993. Prices have also cautiously pushed under the 20-Day Simple Moving Average (SMA), setting up for a near-term bearish outlook.

These technical achievements could pave the way for the pair to retest June lows which could make for a key zone of support between 1.3760 – 1.3805. Otherwise, a bounce places the focus on falling resistance from March – red line on the daily chart below.

USD Forecast
USD Forecast
Recommended by Daniel Dubrovsky
What is the road ahead for the US Dollar in Q3?
Get My Guide

USD/SGD Daily Chart

US Dollar Technical Forecast: USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/SGD Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The Indonesian Rupiah is losing ground to the US Dollar. Recently, USD/IDR pushed above the 50-day SMA after bouncing off the 20-day SMA. A confirmatory upside close could shift the medium-term technical outlook to bullish as price face the 61.8% Fibonacci retracement level at 14773.

Yet, negative RSI divergence does show that upside momentum is fading and that can at times precede a turn lower. Do keep in mind that further weakness in IDR could result in the Bank of Indonesia stepping in to stabilize its currency.

Forex for Beginners
Forex for Beginners
Recommended by Daniel Dubrovsky
Learn how to become a more consistent forex trader
Get My Guide

USD/IDR Daily Chart

US Dollar Technical Forecast: USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/IDR Chart Created in TradingView

Malaysian Ringgit Technical Outlook

The Malaysian Ringgit may gain some more ground against the US Dollar after USD/MYR fell through the 20-day SMA. Prices are testing immediate support at 4.2600 which if taken out, opens the door to testing the key zone of support between 4.2350 – 4.2450.

A daily close under this range could open the door to resuming the top from March where prices established resistance between 4.4390 – 4.4480. In the event of a turn higher instead, keep a close eye on falling resistance for signs of a reversal – red line on the daily chart below.

Find your trading personality and optimal forms of analysis

USD/MYR Daily Chart

US Dollar Technical Forecast: USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/MYR Chart Created in TradingView

Philippine Peso Technical Outlook

The Philippine Peso has been idling at its highest price against the US Dollar since 2017. Key support in USD/PHP sits immediately below as a zone between 49.26 – 49.37, this zone is a floor that held 3 years ago on multiple occasions and could be a pivotal point for the pair.

Immediate resistance sits above at 49.50 which is the 38.2% Fibonacci extension. A bounce and push above this price could open the door to testing the ceiling of the downtrend since March – red area on the daily chart below. Otherwise, clearing support opens the door to downtrend resumption towards the 61.8% extension at 48.93.

What is the road ahead for PHP? Check out this week’s ASEAN fundamental outlook

USD/PHP Daily Chart

US Dollar Technical Forecast: USD/SGD, USD/IDR, USD/MYR, USD/PHP

USD/PHP Chart Created in TradingView

--- Written by Daniel Dubrovsky, 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

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.