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USDSGD 16 Jul 2024 On the daily timeframe, USDSGD seems to be trying to bounce back after experiencing a significant bearish trend earlier this month, which brought the price down below the kumo cloud. Currently, the pair is experiencing a bullish trend reversal and is at a price position of 1.34430. The possibility that this bullish trend could continue is mainly supported by the stochastic indicator which has reached the 20 level, indicating saturation due to oversold. This indicator suggests that there is potential for further strengthening as it recovers from oversold conditions. Traders should watch for further confirmation of this bullish signal to maximize trading opportunities.
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