usdsgd

daily chart

short usdsgd @ 1.4990 SL 1.5110





I am not following my long signal, and I prefer to enter short as I am watching a possible head and shoulders. We tested 4 times 1.5115 without success and we could bet on a possible head and shoulders pattern with a return to 1.4673 first and then a move to 1.4575 then closing the new years eve gap @1.4500, then 1.4331 before a test of 1.4164 and 1.4100


We can see divergence on both RSI and MACD, we retraced 76.4% Fibo from the movement which began Nov 21th 08 @ 1.5347 and Dec 18th 08 @ 1.4164.

It s smelling very very bad, market are ready to bounce, and gold could fly to 1 000 USd and probably to re test 1 100 area while oil could go to 62 - 70 USD, and index could go much higher everything could bounce from now it s very strange but could be interesting in the view to sell higher.
It s not really what I was thinking in term of timing, but it s like last year for easter week end, everything was bear and we bounced, It was my scenario for late March after the market collapsed.
I am still thinking that March is going to be very awful, like big dark cloud, and I think we are not prepared for that.
In the other hand we have to know the Obama rescue plan could bring back confidence even if I doubt about it. I think we could see S&P arround 920 930