Elliott wave Analysis: USDSGD and USDZAR Are Looking Bullish For 2019

Intermediate

Here on the daily chart of USDSGD and USDZAR we can see that the USD dollar can gain more bullish price activity against the Singapore dollar, and the South African rand. On both pairs we can see that price has recently been trading in a temporary pullback from the highs, which has in 2019 come to an end. On the USDSGD we can see price slowly recovering following a complex seven leg correction, while on the USDZAR we can see a nice recovery from the 13.227 level, after a simple A-B-C pullback found its low. All being said, we expect price to unfold a new impulsive sequnece in 2019, and with it more USD dollar strength. That said, our views on both pairs are valid, as long as price keeps trading above 2018 lows.

USDSGD, Daily

USDSGD chart

USDZAR, Daily

USDZAR chart

Gregor Horvat

Elliot Wave Technical Analyst

Gregor Horvat is based in Slovenia and has been in the Forex market since 2003. He has been working for Capital Forex Group and TheLFB.com.

He is the owner of www.ew-forecast.com, which prov...continued

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