The Singapore/USD currency pair is setting up for a possible bullish trend. It has broken through the Kumo cloud on the daily timeframe. Right now, it is consolidating so we are going to set an entry on a bullish breakout.
Here is the chart. Since we have a Kumo “Shadow”, we need to watch this trade all the way up since we are going to experience consolidation through the trade. If you can’t handle consolidation, don’t enter the trade. This currency pair has been going down since 2004! That has been a long time. Therefore, we know we are going to experience consolidation on a bullish trend.
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