From the Desk of Ian Culley @IanCulley
First stop, Singapore!
Steve Strazza and Sean McLaughlin are headed east on a whirlwind tour of Asia.
I must admit, I’m a bit jealous. And I’m not the jealous type!
They’ll visit seven cities over the course of the next month, meeting traders and financial professionals from the tip of the Malay Peninsula all the way to Japan.
I can’t physically travel with them, but I can live vicariously through their stories and videos, and, of course, my charts…
Check out the US dollar/Singapore dollar pair:
It’s not a bad time for Strazza and Sean to be in Singapore with greenbacks in their pockets.
Sure, it’s well off its September 2022 highs.
But it’s challenging the upper bounds of an eight-month range and looks poised to resolve higher.
If and when the USD/SGD breaks above 1.3575, I’m long with an initial target of 1.3875.
I doubt the USD/SGD will break out while the boys are in town. Perhaps it will.
Regardless, it’s a good-looking setup for those traders who take aim at these forex markets.
I just hope they don’t exchange too much money at the airport when they land. Airports always have the worst exchange rates.
I’m sure we’ll find out…
Stay tuned!
Let me know what you think. I love hearing from you!
And be sure to download this week’s Currency Report!
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