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USD/SGD ADX tied to an extreme

By : Mex Group

USD/SGD ADX tied to an extreme

9 September 2016, 22:02

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.

AUD/USD 0001-01-01T00:00:00
0/0 (0%)
H0 L0

S3S2S1R1R2R3
0.7571866512298 0.7582033276557 0.7587666511535 0.7603466510772 0.7613633275032 0.7619266510009

Trend IndexOB/OS Index
Bearish Oversold