empty
05.01.2021 08:58 AM
Elliott wave analysis of USD/SGD for January 5, 2021

This image is no longer relevant

USD/SGD has been in a major flat correction since January 2017. The c leg of wave B is finally coming to an end near 1.3123 from where a new impulsive rally is expected towards strong resistance near 1.4562 and ultimately above here too for a continuation higher towards at least 1.5668 where the coming impulsive rally will be equal in length to the impulsive rally from 1.1989 to the peak at 1.4437.

Short-term a break above resistance at 1.3404 will confirm the completion of wave B and the start of the next impulsive rally towards 1.4562 and higher.

Trading recommendation:

Buy USD near 1.3123 or upon a break above resistance at 1.3404 for a long-term rally to 1.4562 and above

Summary
Urgency
Analytic
Torben Melsted
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Chancy Deposit
    Deposit your account with $3,000 and get $4000 more!
    In July we raffle $4000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis on July 24, 2025

The wave pattern for the GBP/USD pair continues to indicate the formation of an upward impulsive wave pattern. The wave picture is almost identical to that of EUR/USD

Chin Zhao 20:17 2025-07-24 UTC+2

EUR/USD Analysis on July 24, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several months. The upward segment of the trend continues to develop, and the news background still supports

Chin Zhao 20:00 2025-07-24 UTC+2

GBP/USD Analysis on July 23, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulsive wave structure. The wave picture is nearly identical to that of EUR/USD, as the U.S. dollar

Chin Zhao 20:25 2025-07-23 UTC+2

EUR/USD Analysis on July 23, 2025

The wave pattern on the 4-hour chart for EUR/USD has remained unchanged for several months. The upward trend segment continues to form, while the news background continues to support

Chin Zhao 20:17 2025-07-23 UTC+2

GBP/USD Analysis on July 22, 2025

The wave pattern for GBP/USD continues to indicate the formation of a bullish impulse wave structure. The wave configuration is almost identical to that of EUR/USD, as the U.S. dollar

Chin Zhao 20:26 2025-07-22 UTC+2

EUR/USD Analysis on July 22, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several consecutive months. The formation of an upward trend segment continues, while the news background still supports

Chin Zhao 20:23 2025-07-22 UTC+2

GBP/USD Analysis on July 21, 2025

The wave pattern of the GBP/USD pair continues to indicate the formation of a bullish impulse wave pattern. The wave picture closely resembles that of the EUR/USD pair

Chin Zhao 20:14 2025-07-21 UTC+2

EUR/USD Analysis on July 21, 2025

The wave pattern on the 4-hour EUR/USD chart has remained unchanged for several months. The formation of an upward trend segment continues, supported by the news background that favors

Chin Zhao 20:06 2025-07-21 UTC+2

Weekly Forecast Using Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and USD Dollar Index – July 21st

GBP/USD Analysis: The British pound continues its downward movement, which began a month ago. After breaking a strong intermediate support level last week, the pair rebounded, forming a correction along

Isabel Clark 11:22 2025-07-21 UTC+2

Weekly Forecast Using Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and GOLD – July 21st

EUR/USD Analysis:The upward trend in the main euro pair, which began in February this year, has brought the quotes to the lower boundary of a broad potential reversal zone

Isabel Clark 11:05 2025-07-21 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.