Singapore Dollar A lot more weakness on the cards ?

Recent data out of Singapore paints a slowing economy and scope for an interest rate cut.

For a quick summary refer to the CNBC link

https://www.cnbc.com/2019/07/12/singapore-gdp-gross-domestic-product-data-for-second-quarter.html

Having a look at the Monthly Chart a trendline all the way back from 1985 has recently been breached. There is some Horizontal resistance about 20 pips from the current price.

Monthly Chart Link - https://www.tradingview.com/x/75wkr38d/

Should price form a base around the 1.39 handle there is not much resistance all the way up to 1.45

If your a long term positional trader this could be a nice earner with a risk to reward of between 1-3 to 1-6

Option 1 - 200 pip stop , profit target 600 pips
Option 2 - 100 pip stop , profit target 600 pips
Option 3 - you get the idea set them to your comfort level :-)

cheerio
FXcrypto