Our free forex signals service today looks at the USD/SGD and we have the entry, stop and take profits levels for you. The USD/SGD pair is maintaining a bullish momentum as the Greenback gains across the board. The pair is fundamentally strong, following the trend in its peers. Market participants anticipated the Jackson Hole symposium and ongoing concerns over COVID-19 as key factors that influenced the exchange rate of Asian currencies against the US dollar. The DXY Dollar Index that gauges the strength or weakness of the US dollar against a basket of six major currencies has posted fresh 9-month tops. The index is maintaining the bid tone beyond mid-93.00. Despite the growth forecast downgraded by Goldman Sachs to 5.5% in the third quarter from 9.0%, the dollar has been the king currency again. Get FREE Forex Signals Now! Investor appetite for perceived riskier assets was further dampened by the consistent fluctuations in COVID-19 and expectations that the Fed would restrict bond purchases later this year. As a result, the US dollar has become a relative safe haven, which has increased the value of the USD/SGD pair. Since no major US economic reports are affecting the markets, some dollar bulls will be inclined to believe that the Fed will lift its stimulus measures from the pandemic era. –Are you interested to learn more about forex signals? Check our detailed guide- However, the USD/SGD pair is still at its top, suggesting that the path of least resistance is at the top. Therefore, positioning for a rebound should be cautious. USD/SGD free forex signals Instrument: USD/SGD Order Type: BUY STOP Entry price: 1.3658 Stop Loss: 1.3625 TP1: 1.3702 Our Risk Setting: 1% Risk / Reward Ratio: 1:1.3 Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal Forex Trading Signals share Read Next Compound Price Prediction: Time To Buy COMP As It Rises Gerald Fenech 1 year Our free forex signals service today looks at the USD/SGD and we have the entry, stop and take profits levels for you. The USD/SGD pair is maintaining a bullish momentum as the Greenback gains across the board. The pair is fundamentally strong, following the trend in its peers. Market participants anticipated the Jackson Hole symposium and ongoing concerns over COVID-19 as key factors that influenced the exchange rate of Asian currencies against the US dollar. The DXY Dollar Index that gauges the strength or weakness of the US dollar against a basket of six major currencies has posted fresh 9-month… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
