Elliott Wave

Elliott wave analysis of USD/SGD for January 12, 2023

A nice-looking S/H/S top is expected to be activated upon a break below support at 1.3278 and a drop to at least 1.2095, but likely will set the stage for a continuation to below the 2011 low near 1.2000. Resistance near 1.3440 and important resistance near 1.3617 are expected to cap any correction for the break through key support at 1.3278.

Andrew Johnson is a seasoned journalist with a keen interest in the commodity market. He is a regular contributor to Livemarkets.com, where he covers the latest news, trends, and analysis related to the commodity industry. With years of experience under his belt, Andrew has established himself as a reliable source of information on the global commodity market.