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.
|0.7279166777928 ||0.7289433280626 ||0.7294966777165 ||0.7310766776402 ||0.7321033279101 ||0.7326566775639 |
|Trend Index||OB/OS Index|
| Bearish || Neutral |