USDSGD. OVERBOUGHT BUT IS THIS A REVERSAL?
2020-02-12 10:43:33
USDSGD peak as the USD strengthen and the SGD weakened due to the coronavirus situation happening in SG.
However price is weakening as price broke below the uptrend channel, retested and formed lower lows and lower high. (a new downward channel)
Price has been respecting this new downward channel and just recently reversed from the trend line and 50EMA @ 30mins.
Expecting price to further decrease when the bottom trendline is broken.