SGDCNH moving towards possible rebound zone on Daily Chart
Technical analysis:
1. price is approaching the year low level of 4.8627, buyers might get in at this level
2. Divergence between RSI and price is the indication that rebound will happen soon. We just don't know when.
Fundamental analysis:
1. Singapore is a small country. I lived there for 8 years and almost everything needs to be imported. So the government manages exchange rates to hedge the inflation risk. So SGD can't be too cheap.
2. The covid-19 got well contained in SG. Today is the 10th consecutive day of no local cases. As the economy started to go back to normal, it will strengthen SGD.
1. price is approaching the year low level of 4.8627, buyers might get in at this level
2. Divergence between RSI and price is the indication that rebound will happen soon. We just don't know when.
Fundamental analysis:
1. Singapore is a small country. I lived there for 8 years and almost everything needs to be imported. So the government manages exchange rates to hedge the inflation risk. So SGD can't be too cheap.
2. The covid-19 got well contained in SG. Today is the 10th consecutive day of no local cases. As the economy started to go back to normal, it will strengthen SGD.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
plan your trade and trade your plan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.