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USDSGD – 13 Sep 2024

USDSGD 13 Sep 2024

On the weekly timeframe, USDSGD is seen in a long bearish trend, which started in June. The pair has not been able to rally back, and the consistent decline has brought it below the kumo cloud with a price position of 1.29891. Although the stochastic indicator shows that the pair is below the 20 level, indicating oversold conditions and a potential trend reversal, the bearish pressure still seems quite strong. Traders are advised to wait for additional confirmation from other indicators before making trading decisions, as the bearish trend could continue if selling momentum remains dominant.

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