us1-1024x404USD/SGD price moves in a correction of main upward trend. Currently we may observe a test of previous, once defeated, high (of course now acting as a support). As for now, we did not see any reaction to this level. What is more, we may draw a upward channel, where two last demand impulses find themselves. If support fall, we may assume with high likelihood, that price will fall near the channel supply limit.

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.