Stock Technical indicators to notice in British Pound Singapore Dollar (GBPSGD)
1- Last bullish trend was from 2.00 $ (5/18/2010) to 2.15 $ (8/3/2010) a 0.16 $ move 2- The current bearish trend started from 2.15 $ at 8/3/2010 and is currently trading at 2.08 $.
4- GBPSGD current resistance level is at 2.09 which is the 38.20 % fibonacci retracement of the last 0.16 $ move.
5- According to ADX Indicator, the trend is currently bearish, which is getting stronger.furthermore, the ADX indicator location between DMI+ and DMI- is hinting on a strong move ahead. the stock is very volatile at this point.
British Pound Singapore Dollar (GBPSGD) Short term stock chart patterns for internet stock trading :
6- the currency pair was resisted by a resistance line, identified by two points: 2.153 and 2.329, and is currently resisting at 2.133.
British Pound Singapore Dollar (GBPSGD) Mid term stock chart patterns for internet stock trading :
None.
British Pound Singapore Dollar (GBPSGD) Long term stock chart patterns for internet stock trading :
None.
Stock Trading Conclusion:
British Pound Singapore Dollar (GBPSGD) was trading in a bearish wave, which is becoming stronger .
Technical indicators and stock chart patterns show highly volatile movements favoriting no favorited direction,
recommend hold or waiting for entry , because of the high expected future volatility, consider constructing symmetrical options strategies for buying volatility through strangles or straddles in online trading. .
Stock Resistance Levels : 2.09, 2.10, 2.11, 2.12, 2.12, 2.13, 2.13, 2.15,.
Stock Support levels : 2.07, 2.06, 2.00, 1.95,.