The USD/SGD is near 1.28580 as of this writing, this as Forex markets begin to see volume disappear and even day traders who constantly feel the need to pursue opportunities understand very little is happening in the marketplace.
The USD/SGD remains within the lower elements of its price range and is near the 1.28580 vicinity as of this writing. It is New Year’s eve and financial institutions in Asia are all looking towards the exit doors and planning their celebrations for this evening and into the night. The USD/SGD has shown signals of wanting to pursue lower terrain.
Day traders who are still lingering in the Forex market need to know volumes will drop to nearly nil, even for the most traded currency pairs. The USD/SGD will grow extremely quiet and it will remain that way into Friday. Traders who carry positions overnight and thru the New Year’s holiday may be the only ones looking at trading screens over the next day and a half.
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Trading for Next Week in the USD/SGD
Traders who are holding onto positions currently, before their brokers’ platforms tell them that no more trading is being allowed until the end of the holiday, and are looking for movements in a wager need to understand it might be best to get out now. Waiting for a trade to hit a target today may not occur, volumes are low and will not improve. If a large unbalanced order comes into the USD/SGD before closing it could cause a reaction that a trader doesn’t want to see.
The ability of the USD/SGD to maintain value below the 1.29000 comfortably since the 22nd of December is important and does offer clues into the thinking of financial institutions. Lows touched around the 1.28200 yesterday are intriguing and suggest the current price levels being traversed are positioned for potential lower moves. However, this is likely not going to happen today. Friday’s trading will also be light so speculators who are not patient are advised to sit on the sidelines until next week.
USD/SGD Lower Range
It appears lower USD/SGD action has been achieved and will last into January of 2026.
- USD centric weakness has been seen and the Singapore Dollar acting as a key barometer shows financial institutions believe the range now being displayed is comfortable.
- Speculators are urged to be cautious the remainder of this week.
- It would take a large news development to cause a surge in volumes until early next week.
- Traders should enjoy this time and if they want to study the markets and consider possible moves in the coming week.
Singapore Dollar Short Term Outlook:
Current Resistance: 1.28620
Current Support: 1.28550
High Target: 1.28680
Low Target: 1.28510
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