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Wednesday, December 16, 2009

USD/SGD - Important bottom in place



As can be seen on the chart above my count showes that a important bottom is in place for a move back to at least the 155.79 area.

If my count is correcte I would expect to see the ongoing rise to gain momentum for a move closer to resistance at 141.95 before a more serious correction down to the 138.40 - 138.50 area sets in.

Buying USD ag. SGD would make a nice risk/reward trade keeping stops just under 137.69.

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