Our free forex signals service trade today is a buy order on the USD/SGD pair.
The USD/SGD pair is dropping at the time of writing as the DXY drops. It’s traded at 1.3440 and it seems heavy after registering only false breakouts above the immediate resistance levels.
Despite better than expected US data, the greenback lost significant ground versus its rivals. Still, the current sell-off could be only a temporary one as the currency pair stands above a major demand zone.
Yesterday, the US retail sales indicators, Industrial Production, and the Capacity Utilization came in better than expected. Unfortunately for the USD, the Dollar Index is under strong bearish pressure.
3 Free Forex Every Week – Full Technical Analysis
US Unemployment Claims 217K Expected
Later today, the United States Unemployment Claims could drop from 223K to 217K in the last week which could be good for the USD. Moreover, the Philly Fed Manufacturing Index, Building Permits, Housing Starts will be released as well.
In the short term, the USD/SGD pair drops after registering only false breakouts above the 1.3451 weekly pivot point and through the downtrend line. The 1.3419 level stands as a strong downside obstacle. As long as it stays above it, the price could still develop a new leg higher.
Free forex signals – Buy USD/SGD at 1.3465
Free forex signals entry price and takes profit
Instrument: USD/SGD
Order Type: BUY STOP
Entry price: 1.3465
Stop Loss: 1.3415
TP1: 1.3568
My Risk: 1%
Risk / Reward Ratio: 1:2
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Olimpiu Tuns 
Olimpiu Tuns
Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms.
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