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.

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
Bearish
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
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
GBP/USD
Bearish
USD/JPY
Bullish
More View more
Real Time News
  • 4 consecutive down weeks for the #SP500, last matched over a year ago #Fed balance sheet continues to gain very cautiously, now at its highest since the middle of June. Still, at slower pace than last week Focus shifts to US fiscal stimulus next week in the House of Reps https://t.co/f8zpSILm86
  • #Gold prices have broken lower and while the broader technical structure is constructive, the risk remains for a deeper correction before resumption. Get your $XAUUSD technical analysis from @MBForex here: https://t.co/7p3jPx6nQd https://t.co/nnCSdt6OV5
  • Forex Update: As of 20:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.00% 🇳🇿NZD: -0.02% 🇯🇵JPY: -0.15% 🇨🇭CHF: -0.23% 🇦🇺AUD: -0.25% 🇪🇺EUR: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/O8Qb7OHZza
  • Commodities Update: As of 20:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.30% Gold: -0.33% Silver: -0.92% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/lEALo4Z1M9
  • The S&P 500 breakdown is testing the first major zone of support and we’re looking for a reaction. Get your S&P500 technical analysis from @MBForex here:https://t.co/JrTNmQ5c7g https://t.co/D79T1134P9
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.29%, while traders in EUR/GBP are at opposite extremes with 65.04%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/lzTHuIgzFQ
  • US Equities Update (Friday Close): $DJI +1.34% $SPX +1.60% $NDX +2.34% $RUT +1.59% $VIX -7.93%
  • Another turbulent week for the Pound with the currency falling 1.6% against the greenback. Get your $GBPUSD market update from @JMcQueenFX here:https://t.co/WjU4oYpmf7 https://t.co/hkow2om7I6
  • Heads Up:🇺🇸 Fed Williams Speech due at 19:10 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-09-25
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.07% Gold: -0.16% Silver: -0.37% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/hbSoMksZVd
US Dollar Technical Outlook: USD/SGD, USD/MYR, USD/PHP, USD/IDR

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

2020-08-07 04:00:00
Daniel Dubrovsky, Analyst
Share:

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

  • Singapore Dollar testing next key support level
  • USD/MYR may extend losses in the near term
  • USD/PHP could rise, USD/IDR gains at risk

Singapore Dollar Technical Outlook

The Singapore Dollar extended gains against the US Dollar after prices took out the March low, as expected. Now USD/SGD is facing its next key test at support which is the 38.2% Fibonacci extension at 1.3671. Positive RSI divergence shows that downside momentum is fading which can at times precede a turn higher. Yet, falling resistance from March could maintain the dominant downtrend in the event of a bounce from here. Otherwise, further losses expose the 1.3558 – 1.3571 inflection zone.

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 Outlook: USD/SGD, USD/MYR, USD/PHP, USD/IDR

USD/SGD Chart Created in TradingView

Malaysian Ringgit Technical Outlook

The Malaysian Ringgit recently soared against the US Dollar after USD/MYR broke under a Descending Triangle continuation pattern. This has opened the door to further losses as prices test the midpoint of the Fibonacci extension at 4.1835. Just below sits the March low at 4.1600 followed by the 78.6% Fibonacci extension at 4.1226. This price closely aligns with the November 2019 low. In the event of a bounce from here, immediate resistance sits above as the 38.2% Fibonacci extension at 4.2086.

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

USD/MYR Daily Chart

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

USD/MYR Chart Created in TradingView

Philippine Peso Technical Outlook

The Philippine Peso continues to trade within the boundaries of a Falling Wedge bullish reversal pattern, placing USD/PHP’s downtrend at risk. Prices seem to have established the next key support level at 49.02 where just below sits the 61.8% Fibonacci extension at 48.93. A turn higher places the focus on the 2017 floor which consists of the 49.26 – 49.37 zone. For updates on ASEAN currencies as they break key technical levels, be sure to follow me on Twitter @ddubrovskyFX.

USD/PHP Daily Chart

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

USD/PHP Chart Created in TradingView

Indonesian Rupiah Technical Outlook

The Indonesian Rupiah could be readying to reverse against the US Dollar following gains in USD/IDR since June. In July, the short-term 20-day Simple Moving Average (SMA) crossed above the medium-term 50-day SMA, forming a Golden Cross bullish technical signal. Now, USD/IDR seems to be on the verge of falling under the 20-day SMA as it targets the 50-day one. A daily close above 14710 could reinstate the focus to the upside, exposing 14827.

Find your trading personality and optimal forms of analysis

USD/IDR Daily Chart

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

USD/IDR 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