SGD lost over 4% vs. USD this year, before rebounding. The move saw the currency fall from around 1.56% above the mid-point of the SGD NEER band to around -0.47% below the mid-point, a precipitous drop. Analysts at TD Securities recommend a trade position on the USD/SGD. Key quotes “Sell USD/SGD at 1.3874, target 1.3688 (50 and 200-day moving average), stop loss 1.3957.” “While it is now likely that MAS eases policy at its review in April there is scope for SGD to appreciate vs. USD even as it stays within the lower half of the band.” “Separately the Fed’s decision to slash rates by 50bp, and likely further cuts in March and April, has undermined the USD further.” “Further USD pressure is likely against EM FX in the short term, and we believe SGD is an attractive option to capitalize on its weakness.” “USD/SGD MACD (12.26) has crossed below the signal line, pointing to further downside in the currency pair.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/USD: Testing the accelerated downtrend – Commerzbank FX Street 2 years SGD lost over 4% vs. USD this year, before rebounding. The move saw the currency fall from around 1.56% above the mid-point of the SGD NEER band to around -0.47% below the mid-point, a precipitous drop. Analysts at TD Securities recommend a trade position on the USD/SGD. Key quotes “Sell USD/SGD at 1.3874, target 1.3688 (50 and 200-day moving average), stop loss 1.3957.” “While it is now likely that MAS eases policy at its review in April there is scope for SGD to appreciate vs. USD even as it stays within the lower half of the band.” “Separately the Fed's… 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.
