USD/SGD's Downward Momentum Remains Strong, Chart Shows -- Market Talk

Dow Jones

2024-08-22

0445 GMT - USD/SGD's downward momentum remains strong after touching 1.3036 on Wednesday, just two pips above 2023's low, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research report. In addition to strong downward momentum on weekly chart, the weekly average directional index indicator is heading steadily higher toward 25, suggesting that the current price movement could be developing into a strong trending move, the strategist says. If USD/SGD breaks clearly below 1.3034, the risk of it slipping below the 1.3000-1.3008 support area increases substantially, the strategist says. The subsequent support level to watch would be relatively minor at 1.2960, the strategist adds. USD/SGD is 0.1% higher at 1.3065. (ronnie.harui@wsj.com)

(END) Dow Jones Newswires

August 22, 2024 00:46 ET (04:46 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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In addition to strong downward momentum on weekly chart, the weekly average directional index indicator is heading steadily higher toward 25, suggesting that the current price movement could be developing into a strong trending move, the strategist says. If USD/SGD breaks clearly below 1.3034, the risk of it slipping below the 1.3000-1.3008 support area increases substantially, the strategist says. The subsequent support level to watch would be relatively minor at 1.2960, the strategist adds. USD/SGD is 0.1% higher at 1.3065. (ronnie.harui@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  August 22, 2024 00:46 ET (04:46 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":"2461358707","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2461358707","pubTimestamp":1724301960,"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":"0445 GMT - USD/SGD's downward momentum remains strong after touching 1.3036 on Wednesday, just two pips above 2023's low, says Quek Ser Leang, markets strategist of UOB's Global Economics & Markets Research, in a research report. In addition to strong downward momentum on weekly chart, the weekly average directional index indicator is heading steadily higher toward 25, suggesting that the current price movement could be developing into a strong trending move, the strategist says. If USD/SGD breaks clearly below 1.3034, the risk of it slipping below the 1.3000-1.3008 support area increases substantially, the strategist says. The subsequent support level to watch would be relatively minor at 1.2960, the strategist adds. USD/SGD is 0.1% higher at 1.3065. 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In addition to strong downward momentum on weekly chart, the weekly average directional index indicator is heading steadily higher toward 25, suggesting that the current price movement could be developing into a strong trending move, the strategist says. If USD/SGD breaks clearly below 1.3034, the risk of it slipping below the 1.3000-1.3008 support area increases substantially, the strategist says. The subsequent support level to watch would be relatively minor at 1.2960, the strategist adds. USD/SGD is 0.1% higher at 1.3065. (ronnie.harui@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 22, 2024 00:46 ET (04:46 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":1,"code":"91000000","status":"200"}}}