USD/SGD has captured the attention of market participants with its hourly ADX(14) hurdling above the 50 level.
Accordingly to the ADX indicator, USD/SGD has surged above the key 50 level in a technical event that threatens the potential for its price action to remain constructive. Such a strong move encourages bulls to pile in, likely positioning stops close to the market to lock in profit. This may have the opposite effect of a squeeze, driving the prices lower to find less impulsive buyers.
|0.7571866512298 ||0.7582033276557 ||0.7587666511535 ||0.7603466510772 ||0.7613633275032 ||0.7619266510009 |
|Trend Index||OB/OS Index|
| Bearish || Oversold |