Singapore dollar: after the flood

Market Leader informed

Earlier this week heavy rains lead to serious floods in Indonesia, Malaysia and Vietnam, which caused a crop failure and consequently a price boom, on rubber in particular.

In the meantime, USD continues declining versus the Singapore Dollar (SGD) at Forex.

This week the price keeps shaping the 5^th subwave inside wave C on D1. Its constituents: wave A of level H8, a retracement for wave B, and wave a (C ) or C, which is currently being developed and has a 5-wave structure with H2 waves acting as its subwaves.

Thereby,  the Department of studying  Masterforex-V trading system expects one of the following scenarios of the USDSGD price movement to take place:

·continuation of wave A/5 of level H2

·appearance of the upward MF Reference Point, with breaking through the MF pivots at 1.2854 and 1.2893 and coming out of the MF Sloping Channel, which will signify the end of wave a(C )/C of level H8

·elongation of wave a(C )/C on h8 through “the Hound of the Baskervilles by Elder MF”

Nov 5^th. Forthcoming news (GMT):

12:30 GBP Producer Price Index Output Core
12:30 GBP Producer Price Index Input
13:00 EUR Euro-Zone Retail Sales
13:00 EUR German Factory Orders
15:30 USD Change in Non-farm Payrolls
15:30 USD Unemployment Rate
15:30 USD Avg Hourly Earning    
15:30 USD Change in Private Payrolls
15:30 USD Avg Weekly Hours All Employees
15:30 USD Change in Manufacturing Payrolls
15:30 USD Fed's Charles Plosser Moderates Panel at Atlanta Fed Conference                    
16:30 USD Fed's Thomas Hoenig Speaks on Economy                   
17:00 USD Pending Home Sales    
18:15 USD Fed's Richard Fisher Moderates Panel at Atlanta Fed Conference                    
20:20 USD Fed's James Bullard Moderates Panel at Atlanta Fed Conference                    
22:00 USD Consumer Credit
23:15 USD Fed's Jeffrey Lacker Moderates Panel at Atlanta Fed Conference

 

 

 

 

Support/Resistance levels:

1.2893 MF pivot

1.2854 MF pivot

1.2821 the current price

1.2804 138.2%, 223.6%, 138.2%

1.2773 150%, 238.2%

1.2743 161.8%, 261.8%, 176.4%

1.2705 176.4%, 300%, 200%

1.2677 150% W1, 188.2%, 323.6%, 223.6%

 

 

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