USD/SGD tumbles down and hesitates then

Harami Cross Formation in the daily chart of the USD/SGD discovered. The could announce a change in trend from bearish to neutral.

The stochastic oscillator with the setting of 14,3,3 is in the oversold area below 20. The oscillator could quickly react to it, should be a closing price near the highs, especially after yesterday’s opening and closing has led the course to a Doji. The indecision of the trader is also reflected in the 1-hour ADX, fell during today’s session under 30.

The Harami Cross has more credibility due to the greater indecision reflected in a Doji and is therefore an even greater indication of an upcoming trend reversal.

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