Alex Borzak
The housing prices in Singapore didn’t changed in October. However, according to Urban Redevelopment Authority, the price growth seen in Q3 2011 was record-high. Investors are still confident in Singapore’s economic potential.
In the meantime the Singapore Dollar exchange rate keeps moving in the 1,2381 - 1,2860 range after forming an upswing – wave A/B. According to the Department of Masterforex-V trading System, the mid-term prospects of USDSGD will be determined by the direction in which the price comes out of the range.
If USDSGD breaks the top of the range (1,2860), it will form an upward FZR of H8. In this case the price may encounter resistance around 1,2913. On the other hand, a break below the bottom of the range (1.2381) will form a bearish FZR of Daily 2 within the scope of the major downtrend.
Alex Borzak
