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SGD and MYR - future directions

Based on USDSGD long term chart, USDSGD may reach 1.60. However from short term USDSGD chart, the price target of 1.60 is difficult due to ascending wedge pattern. From chart of USDSGD vs STI, USDSGD has inverse relationship with STI due to export-dependent Singapore economy. If you are bearish on Singapore economy, then the USDSGD target of 1.60 is possible.


USDSGD long term chart


USDSGD short term chart

USDSGD vs STI


USDMYR long term chart


USDMYR short term chart


SGDMYR short term chart
While USDMYR is in the similar situation of USDSGD, how about SGDMYR? In the previous post, it was forecasted that SGDMYR may reach 2.45-2.48. Due to weakened Singapore economy, the target of 2.45-2.48 for SGDMYR has to be delayed. In the short term, resistance for SGDMYR is 2.425

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This entry was written by banking IT developer, posted on April 1, 2009 at 3:27 am, filed under Currency. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.