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
Bullish
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
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
More View more
Real Time News
  • S&P 500, Nikkei 225 Outlook: Stocks Hit Record High as VIX Falls https://www.dailyfx.com/forex/market_alert/2021/06/14/SP-500-Nikkei-225-Outlook-Stocks-Hit-Record-High-as-VIX-Falls.html https://t.co/uJUmHoLgfL
  • Please join @IlyaSpivak at 22:00 EST/2:00 GMT for your cross-market weekly outlook webinar. Register here: https://t.co/E213bTtq5C https://t.co/0mnH4HOZU2
  • *Schedule Reminder: Weekly Strategy Webinar on Monday at 8:30am EST (12:30GMT) with DailyFX - https://t.co/lxd5fZnn4H Mid-Week Market Update on Wednesday at 9:30am EST (13:30GMT) with IG - https://t.co/8SFBJxNZrA
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/kHnKrEkI2r
  • 8 out of 11 S&P 500 sectors ended higher, with 69.5% of the index’s constituents closing in the green. Financials (+0.61%) and information technology (+0.56%) outperformed, while healthcare (-0.73%) and real estate (-0.59%) trailed behind. https://t.co/MiGE1XFknG
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/3US2UaRckO
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/z9XcfuxLOx
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here: https://t.co/MZtBh88nOv https://t.co/hQgZB9T73q
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here: https://t.co/vg7w10CKUR https://t.co/9JVh6BsWa2
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/ZDuee58Abe
US Dollar Technical Outlook: USD/SGD, USD/MYR, USD/PHP, USD/IDR

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

Daniel Dubrovsky, Strategist

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/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.

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