USD/SGD met with an upside nudge

4 January 2016, 

A shooting star reversal seen on the USD/SGD daily chart is tipping traders off for a downside break.

The price rallied during the session, but pulled back to the bottom to close near the opening price.

Considering what's happening on 4-hour studies where the price structure has been at a considerable distance above it's 200-period SMA, the case for a retracement becomes highly compelling.

NZD/USD 2016-01-04T02:45:00

0.67617/0.6763 (-0.085754417091%)

H0.67695 L0.67572

S3	S2	S1	R1	R2	R3
0.6764666239420	0.6783833106358	0.6795166532198	0.6825666824976	0.6844833691914	0.6856167117754

Trend Index	OB/OS Index
Bearish	Oversold