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USDSGD 1 Nov 2023

USDSGD 1 Nov 2023 on H1 timeframe. It can be seen that the pair is moving sideways between S1 and R1. Although it is above the kumo cloud on the ichimoku indicator, if you refer to the stochastic indicator, it seems that there will be a bearish trend after the crossing of two moving averages occurs. If the bearish is happening, dropping towards S1 and even breaking it, then go-short could be an option for scalpers. But if the trend reverses when the pair touches S1, then go-long is the option to take again. Keep an eye on market movements and consider all possibilities before making a trading decision.

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