USD/SGD Likely Retains Downward Bias, Chart Shows -- Market Talk

Dow Jones

2024/07/09

0038 GMT - USD/SGD likely retains its downward bias, based on daily chart, says Yeap Jun Rong, market analyst at IG, in an email. Although buyers attempted to defend key trendline support at 1.3480 level overnight, the currency pair's daily relative strength index is dipping back below the mid-line, so more conviction may be needed to overturn the downward bias, the analyst says. Also, USD's seasonality in July tends to lean toward weakness, the analyst says. Any break below key trendline support could suggest sellers in greater control, which may put 1.3440 in focus next, the analyst adds. USD/SGD is steady at 1.3499. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

July 08, 2024 20:38 ET (00:38 GMT)

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Although buyers attempted to defend key trendline support at 1.3480 level overnight, the currency pair's daily relative strength index is dipping back below the mid-line, so more conviction may be needed to overturn the downward bias, the analyst says. Also, USD's seasonality in July tends to lean toward weakness, the analyst says. Any break below key trendline support could suggest sellers in greater control, which may put 1.3440 in focus next, the analyst adds. USD/SGD is steady at 1.3499. 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Although buyers attempted to defend key trendline support at 1.3480 level overnight, the currency pair's daily relative strength index is dipping back below the mid-line, so more conviction may be needed to overturn the downward bias, the analyst says. Also, USD's seasonality in July tends to lean toward weakness, the analyst says. Any break below key trendline support could suggest sellers in greater control, which may put 1.3440 in focus next, the analyst adds. USD/SGD is steady at 1.3499. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 08, 2024 20:38 ET (00:38 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GTLS","symbol_name":"查特工業","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2450903763","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2450903763","pubTimestamp":1720485480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0038 GMT - USD/SGD likely retains its downward bias, based on daily chart, says Yeap Jun Rong, market analyst at IG, in an email. Although buyers attempted to defend key trendline support at 1.3480 level overnight, the currency pair's daily relative strength index is dipping back below the mid-line, so more conviction may be needed to overturn the downward bias, the analyst says. Also, USD's seasonality in July tends to lean toward weakness, the analyst says. Any break below key trendline support could suggest sellers in greater control, which may put 1.3440 in focus next, the analyst adds. USD/SGD is steady at 1.3499. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"GTLS":"查特工业","LU2249611893.SGD":"BNP PARIBAS ENERGY TRANSITION \"CRH\" (SGD) ACC","BK4024":"房地产开发","BK4161":"工业机械","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","LU0823414478.USD":"法巴经典能源转换基金","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","USD":"ProShares Ultra Semiconductors"},"translate_title":"图表显示，美元/新加坡元可能保持下行趋势——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SGD":1,"USD":1,"GTLS":1,"USDSGD.FOREX":1},"content_text":"0038 GMT - USD/SGD likely retains its downward bias, based on daily chart, says Yeap Jun Rong, market analyst at IG, in an email. Although buyers attempted to defend key trendline support at 1.3480 level overnight, the currency pair's daily relative strength index is dipping back below the mid-line, so more conviction may be needed to overturn the downward bias, the analyst says. Also, USD's seasonality in July tends to lean toward weakness, the analyst says. Any break below key trendline support could suggest sellers in greater control, which may put 1.3440 in focus next, the analyst adds. USD/SGD is steady at 1.3499. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 08, 2024 20:38 ET (00:38 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}