USD/SGD hit important resistant

USD/SGD steep upward hit improtant resistant.  This morning market opened it went higher and then came down and it seems like forming a shooting star.  Will it end with a shooting star and tomorrow trigger or ......... ?  Actual traders may not want to wait for that.

USD/SGD earlier hammer did not trigger. Another hammer at level signal. Will it trigger?

Look for trigger - USD/SGD hammer at support.

EUR/USD shooting star & USD/JPY Weekly Inverted Hammer and Daily Hammer plus Divergence

Shooting star at level on EUR/USD triggered

Strong USD?

Continue from my previous posted on 18-Sep, USD was going strong.  As US "QE" to be shutter by end of this month.  Where else Europe and Japan continue their stimulus program.  With this, we can see that the USD was going strong as compare to most of the currencies out there. 

USD/SGD and USD/JPY pairs continue to move north.  It is about to the reach the FIBO 261% and 161% respectively.

EUR/USD, it broke FIBO 261%.  Will it continue pounding south toward 423%?  Possible, but look out as there are couple of enemy sandbags out there between the 261% to 423%.  (Refer to chart).  As I said forex is sensitive to numbers, political decision and plan............  and if everyone recognise the strength of USD, you better......So we need to watch out on that.

GBP/USD, it has a pulled back, nicely touched important FIBO 61.8% sandbag, could not penetrate through, so it pulled back and continue to move south.  Last Friday, it broke FIBO 100%.  However, I see a possibility of divergence form.  Can they like the others, reach FIBO 161%?  Let's go step by step.  Divergence form - yes or not?  Watch out on this.

USD has been going strong for month. And what about GBP?

USD has been going strong for few months.  It has to do with what we called "Tapering".  Just take a look at few of the currencies pairs. 

EUR/USD - It came down from 1.399 to 1.283  Now, it is trying to approach FIBO 261.8%

USD/JPY - It broke FIBO 100% and now approaching 161.8%

USD/SGD - Last night it broke FIBO 161.8% Can it reach respecting FIBO 261.8% level?  Before it  can reach there, it need to overcome 2 other resistant which are at 1.2726 and 1.2792

Last night Fed confirmed further $10B reduction in its monthly purchase, leaving the stimulus program on course to be shuttered end of next month.  After that, what next, will USD continue to show it power? 

Currencies use to be sensitive to certain news, data and of course politics.  I will be watching very closely on interest rate and yield.  On the other hand,  I will be watching closely on Europe.  Today, it has a incredible low interest rate and planning for stimulus.  How far can they go?  Further reduce the interest rate, more stimulus program???  It also has a link with sanction war.  How much it impact the Europe. 

Base TA, as you can see from the charts, all 3 are half way through the major S/R level.  Tap on those fundamental as I mentioned above, look for candle patter/price action signal when it is reaching the S/R level. 

Let's look at another currencies pair - GBP/USD.  Fate of UK (of course Scotland), GBP came down all the way from 1.719 to 1.605 in just two months.  Currently, it is at retracement/pull back stage.  Today, people in Scotland will vote on whether the country should stay in the UK or become an independent nation.  So watch out on that if you are trading GBP.  Important FIBO level between 50% to 61.8%

Price action both USD/SGD and USD/JPY broke it resistant

Price action - USD/SGD broke 1.259 resistant and now approaching FIBO 161.8%
USD/JPY also broke FIBO 100% 105.424 resistant

EUR/USD finally touches FIBO 161.8%

After 22 days of swim, EUR/USD this morning opened with a gap down and finally touches FIBO 161.8%
So what's next?  FIBO 161.8% is also a support level.  If the bear continue pounding, look for any candle sign at 1.3105 level.  If 1.3105 could not stop the bear from pounding, the next level that I will be looking at is 261.8%