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USDSGD 5 Feb 2024

USDSGD on the Daily timeframe, the pair is trying to break the kumo cloud on the ichimoku indicator. After a long period of sideways moving, the pair is now initiating bullish and trying to rise and continue to strengthen. Being at the price position of 1.34427 the pair is still likely to continue the bullish trend until it manages to break the kumo. This is also reinforced by the graph on the stochastic indicator which also shows an upward graph. Therefore go-long can be an option for traders. However, if the pair fails and goes bearish again then go-short is an option. Keep an eye on the market movements and consider all possibilities before making a trading decision.

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