Attract – xMetaMarkets.com / Online Innovative Trading Facility Mon, 08 Aug 2022 10:09:46 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 /wp-content/uploads/2022/07/cropped-Logo-menu-32x32.png Attract – xMetaMarkets.com / 32 32 Higher Move Consolidates and Could Attract Wagering /2022/08/08/higher-move-consolidates-and-could-attract-wagering/ /2022/08/08/higher-move-consolidates-and-could-attract-wagering/#respond Mon, 08 Aug 2022 10:09:46 +0000 /2022/08/08/higher-move-consolidates-and-could-attract-wagering/ [ad_1]

The USD/SGD has held onto the upwards movement it created before going into the weekend as Monday has started and may entice traders.

The USD/SGD is hovering near the 1.38000 level as of this writing. Before going into the weekend, the USD/SGD currency pair had been seeing plenty of price activity near the 1.37500 ratio, which was until U.S economic data via Average Hourly Earnings came in stronger than expected.

While technical traders may dismiss the price action as a natural move higher as support was proven durable, fundamental traders certainly will point to behavioral sentiment across Forex which shows the USD got strong in most major currency pairs at nearly the exact moment. The move higher attained on Friday was a spike upwards which touched the 1.38340 level briefly.  It appears the USD/SGD currency pair may face rather choppy conditions moving forward this week.

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Ride Upwards Mirrors Other Major Currencies as USD/SGD Climbs

The fact that the USD/SGD has essentially held its ground this morning and not reversed sharply lower, likely demonstrates nervous sentiment again is vast regarding the U.S Federal Reserve’s outlook regarding interest rates. On the 26th of July the USD/SGD was trading near the 1.39000 ratio, this before slumping to a low of nearly 1.374700 momentarily this past Friday. The incremental selling of the USD/SGD likely took place the past tend days because financial houses were counting on a less hawkish U.S central bank.

Friday’s data from the U.S turned Forex on its head quickly and the USD/SGD reversal higher suddenly brought the currency pair in sight of upwards realms.  Yes, the USD/SGD could certainly reverse lower and traders should expect choppy conditions ahead this week as financial houses search for equilibrium, but behavioral sentiment may remain nervous about more interest hikes from the U.S than were expected only one week ago. If this proves to be the case the USD/SGD may continue to test the 1.38000 ratio and higher.

  • Support near the 1.38000 should be watched closely for the USD/SGD currency pair in the short term. Durable support could spur on more buying of the USD/SGD as speculative perspectives look for more upside.
  • Support near the 1.37500 if broken lower would be noteworthy, but may point to an oversold USD/SGD, which could create reversals higher near term.

USD/SGD Testing Higher Realms Again and Bulls may pursue Price Action

The USD/SGD will generate fast trading today.  Last Friday’s spike higher will certainly be tested by speculators who believe the Forex pair has been overbought, but strong lower moves are likely to create buying opportunities. The USD/SGD may find durable support within the 1.37900 to 1.37650 sphere. Traders must be careful with the amount of leverage they use, and take profit and stop loss orders are urged.

Singapore Dollar Short-Term Outlook

Current Resistance: 1.38150

Current Support: 1.37850

High Target: 1.39090

Low Target: 1.37500

USD/SGD

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Solana Price Velocity and Trend Could Attract Bets /2022/06/15/solana-price-velocity-and-trend-could-attract-bets/ /2022/06/15/solana-price-velocity-and-trend-could-attract-bets/#respond Wed, 15 Jun 2022 10:14:09 +0000 https://excaliburfxtrade.com/2022/06/15/solana-price-velocity-and-trend-could-attract-bets/ [ad_1]

In yesterday’s trading SOL/USD tested long term price levels not sincerely tested since April of 2021, a slight reversal higher than took Solana to a short term high of nearly 30.0000.

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SOL/USD continues to produce fast trading conditions. As of this writing, SOL/USD is near the 28.5000 ratio, but price action is fast as important support levels are certainly within view and are being challenged. In early trading yesterday, Solana briefly broke below the 26.0000 mark, but a reversal higher took SOL/USD actually above the 30.0000 momentarily.

Intriguingly SOL/USD remains above its price levels from February and March of 2021. While most other major cryptocurrencies are testing values with more distant time ratios, SOL/USD has not experienced a complete collapse of its price band quite yet. The ability to stay above the lower prices as last year’s over exuberance developed in the broad cryptocurrency market makes SOL/USD worthy of consideration for speculative wagers.

If a trader remains skeptical about the values of SOL/USD within the bearish trend which is being demonstrated, they may be tempted to believe lower depths await Solana. While the 26.0000 was challenged for a moment yesterday, SOL/USD could not puncture the mark lower. Current price action which shows SOL/USD above the 28.0000 could look like a value which may prove vulnerable, if more selling escalates in the broad cryptocurrency market.

Traders who have a speculative taste for adventure need to use their risk taking tactics wisely.  SOL/USD moves exceptionally fast in normal times, so entry price orders are needed to make sure the fill meets expectations in the wildly volatile conditions now being experienced. If a speculators chooses to short SOL/USD near the current price ratios above 28.5000 and look for downside they cannot be blamed.

If the 28.0000 mark were to be flirted with this could set off another test of values seen yesterday. The 27.5000 to 27.2500 marks seem justifiable as targets for short sellers. If SOL/USD were to fall below the 27.0000 juncture, traders who are participating with selling positions should not get overly greedy and be willing to cash in winning trades.

SOL/USD remains a major cryptocurrency trade and its price action is fast.  Under the present volatile conditions and bearish trend which has been demonstrated with plenty of force, looking for additional lower depths is the logical choice for traders willing to bet on direction. However, speculators need to understand that the broad digital asset market is producing violent results and conservative trading needs to be practiced.

Solana Short-Term Outlook

Current Resistance: 28.6800

Current Support: 27.5500

High Target: 31.0900

Low Target: 24.9600

SOL/USD

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Climb Higher May Attract Speculative Long Wagers /2022/05/25/climb-higher-may-attract-speculative-long-wagers/ /2022/05/25/climb-higher-may-attract-speculative-long-wagers/#respond Wed, 25 May 2022 11:24:19 +0000 https://excaliburfxtrade.com/2022/05/25/climb-higher-may-attract-speculative-long-wagers/ [ad_1]

BNB/USD was able to move to a five day high early this morning, and this incremental climb may attract speculative wagers on the buy side, or not.

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BNB/USD is trading near the 333.5000 mark as of this writing.  Earlier this morning Binance Coin moved to a high not seen since the 10th of May when BNB/USD actually hit the 338.2000 vicinity. The ability to break through highs seen on the 23rd of May, when BNB/USD hit the 337.2500 ratio may get the pulse of speculative bulls racing, but it may attract skeptics too.

Before traders who remain optimists about the potential of buying BNB/USD, this if they consider the cryptocurrency in oversold territory, some words of warning: we are still within a bear market until proven otherwise.  The sudden rise in value of BNB/USD has come on the heels of an incremental climb which technically could be important if the broad cryptocurrency market were to suddenly turn around in mass, and start showing sincere price velocity upwards breaking resistance levels across the board, but it has not.

Skeptics who remain doubtful of BNB/USD and its price direction may view the recent climb higher as an opportunity to be sellers again. Traders are advised not be contrarian all of the time, sometimes moves higher can ignite into powerful trends in cryptocurrencies, but recent history has demonstrated that these moves upward have met stiff resistance and turned lower with dangerous volatility.

While bullish traders may respectfully disagree, BNB/USD would have to break the 340.0000 mark to really get folks to believe there is a chance that momentum is shifting. Technically, it can be argued that BNB/USD would actually have to break the 350.0000 ratio to verify a strong move higher, until this happens what we may be witnessing are mere short term reversals in a cryptocurrency market that remains choppy at best. The long term bearish trend remains intact for now and market conditions are still very fragile.

If BNB/USD falters and drops below the 333.0000 level near term another test of the 331.0000 mark could develop rapidly. Traders who want to sell and believe resistance will start to prove durable within the current price realm of Binance Coin are advised to use their risk taking tactics wisely. The cryptocurrency market remains volatile and sudden moves could develop quickly. The use of entry price orders and stop losses are needed. Selling BNB/USD and looking for lower values near term may be the speculative wager traders want to pursue still.

Binance Coin Short-Term Outlook

Current Resistance: 336.8100

Current Support: 331.9000

High Target: 340.2300

Low Target: 323.1000

BNB/USD

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