Swing with Euro Sing
Who doesn’t like a good swing trade? EUR/SGD is on my radar from the breach of short term resistance at 1.6300. For mine, the five day trend is against the fundamentals – QoQ reads of GDP show Singapore is emerging from contraction, whereas tonight’s final GDP in Germany is likely to confirm that the largest economy in Europe is heading to recession.
Fundamentally, I want to sell EUR/SGD.
Today’s price action pushed through longer term resistance at 1.6356 and keeps the pair outside the Bollinger bands:
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