Eseandre Mordi
⬤ USD/SGD is leaning into bearish territory after failing to push past recent highs. The technical outlook now favors a drop toward 1.2604 or below on the daily timeframe, as long as price stays capped under 1.2888. The current structure suggests fresh weakness following recent corrective moves.
⬤ Any near-term recovery attempts look set to be short-lived. A brief bounce in three, seven, or eleven swings might materialize, but these rebounds are expected to fizzle out below the January 2025 high before downside pressure kicks back in. The Elliott Wave pattern backs this view, mapping out the broader bearish sequence alongside smaller corrective swings.
⬤ The technical picture is straightforward: the bias stays bearish while USD/SGD trades beneath 1.2888. Failure to break above that level keeps pressure on the pair and maintains focus on 1.2604 as the next key downside target. The analysis emphasizes trading only in the direction of the dominant trend and avoiding countertrend plays while the structure remains unfinished.
Eseandre Mordi
