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

USD/SGD to recapture critical juncture

4 January 2016, 

Recent upward moves led to a cross between the 100 and 200 SMA on the 4H USD/SGD charts.

A recent bounce in the USD/SGD price structure might contribute to a consensus of technical levels, especially when the recent lows are at a relative narrow distance from the price level where the so-called "Golden Cross" occurred. At a distance slightly shorter than a daily ATR, the 200 SMA could exhibit some attraction to the price. The bullish outlook should be dismissed by a close beyond the 200 SMA.

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

The 1-hour NZD/USD MACD series is sitting at extreme lows.

Recent plummeting NZD/USD price action has been highlighted by an above-average distance between MACD and its signal line. From a strategic standpoint, there could be further stomach-churning dips to endure, as well as brief relief rallies. The latest MACD print shows dissipation of downside momentum, thus reinforcing the second scenario.

NZD/USD 2016-01-04T03:45:00

0.67525/0.67541 (0.1495565131121%)

H0.67645 L0.6749

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

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EUR/GBP outlook

EUR/GBP outlook

• After failing at the 75.90 level, we appear to be heading back towards the lows at 74 pence.
  
  
• Only a move below 74 suggests a move towards 72.55, which had originally been the peaks seen in 2003.