ExoticTrading is a series of analyzes, which is created in collaboration with the broker InterTrader and is published on Comparic every Monday, Wednesday and Friday. The theme as the name suggests are so called- exotic currency pairs.
Since the beginning of the month we observe dynamic growth, which after a short correction yesterday rejected local support @8.1321 and today defeated the downtrend line. If in the near future the market will overcome local resistance 8.2466, then increases could reach area around 8.3430 or even further to 8.5779 resistance.
For last two months we can observe strong strengthening of the American dollar against the Singapore dollar which resulted in overcoming of an important resistance 1.3843 setting an important high. In the near future we can therefore expect a continuation of growth, even in the vicinity of 1.4090.
For nearly two years we observed correctional movement in a downward channel forming a flag. Last week, due to a strong appreciation of the USD top of the formation was broken and constantly continued growth overcame the significant resistance level 8.8160 and currency pair USDSEK reaches highest level since April 2009 and opened the way for further growth.