USDSGD: A perfect long term setup forming

Hello,

The USDSGD has been correcting since the year 2020. The expanding triangle formation offers a perfect opportunity for investors to trade this asset at the bottom and sell it at the top. Currently the pair is trading close to the bottom giving opportunity to risk taking trades on entry. The target for this pair shall be the top with a stop loss below the trendline.

Further supporting this trade is the MACD indicator that is showing signs of bullish zero crossover. We advise clients looking to invest but risk averse to await a confirmation using the MACD zero crossover or a strong bullish move from the current levels. The stop loss must remain below the bottom for better risk management. Additionally, this must be viewed as a long-term trade since we are charting on weekly candles.

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