SGDMYR traded all-time high of 3.1610 levels this morning. The move higher was due to SGD outperformance. Cross was last seen a touch softer at 3.1580. Price action suggests a potential ascending triangle formation in the making. This is characterized by the horizontal resistan

GBL: SGDMYR – Uncharted Waters?

FX Tech Flash by Saktiandi Supaat

FX Research

SGDMYR traded all-time high of 3.1610 levels this morning. The move higher was due to SGD outperformance. Cross was last seen a touch softer at 3.1580. Price action suggests a potential ascending triangle formation in the making. This is characterized by the horizontal resistance formed around 3.1480 levels (highs in Jan and Feb 2017) and an ascending trend-line support from the lows of Dec to Feb 2017. This is typically a bullish formation and is part of a continuation of an uptrend...