Bearish view on SGDCNH(potential low 4.63)

The reason I like to review the pair is that I've in SG for 8 years. It's my second home. Most importantly I have SGD deposited in the local bank. Personally, I prefer to strong SGD.

The reality is harsh. I don't know what happened on Jan. 8th. But the long lower wick really opened the downside space. The potential low is 4.63(measured move).

Singapore got hit badly by the covid-19. The little red dot relied heavily on openness. Today, a new cluster was identified, so it's far from over.

Good news is that vaccination has started.

הערה:

Yep. After publishing the idea, it's been down almost 300 bps.