Asia is gradually turning into the world’s leading center of gambling and entertainment.
5 years ago Macao became the leader in the industry. According to Frank Fahrenkopf , the head of the American Gaming Association , this year Las-Vegas has yielded the 2nd place to Singapore. It is expected that this year the gambling industry will bring almost $ 6.4B of profit.
It should be reminded that in 2010 two integrated gambling places in Singapore attracted over 11 million tourists.
The experts from the Department of Masterforex-V trading system say that the profits of Singapore’s gambling industry keep having a positive impact on the Singapore Dollar.
At this point USDSGD is forming a bullish wave (wave 5/A) of Daily. 1.2212, the low, will act as a support level. If the price breaks and consolidates below it, 1.2134 will become the next level of support.
A bullish wave is needed to start a retracement against the downtrend. It should break above the MF pivot and sloping channel (as shown in the picture below):
