Source: PaxForex Premium Analytics Portal, Fundamental Insight

Singapore Retail Sales for October increased by 0.2% monthly and decreased by 10.7% annualized. Forex traders can compare this to Singapore Retail Sales for September, which decreased by 4.2% monthly and by 10.7% annualized.

The US NFP Report for November is predicted to show 469K job additions and an unemployment rate of 6.8%. Forex traders can compare this to the US NFP Report for October, which showed 638K job additions and an unemployment rate of 6.9%. Private Payrolls for November are predicted to show 589K job additions and Manufacturing Payrolls 43K job additions. Forex traders can compare this to Private Payrolls for October, which showed 906K job additions, and to Manufacturing Payrolls, which showed 38K job additions. The Average Work Week for November is predicted at 34.8 hours. Forex traders can compare this to the Average Work Week for October, reported at 34.8 hours. Average Hourly Earnings for November are predicted to increase by 0.1% monthly and by 4.3% annualized. Forex traders can compare this to Average Hourly Earnings for October, which increased by 0.1% monthly and by 4.5% annualized.

The US Trade Balance for October is predicted at -$64.8B. Forex traders can compare this to the US Trade Balance for September, reported at -$63.9B. US Factory Orders for October are predicted to increase by 0.8% monthly. Forex traders can compare this to US Factory Orders for September, which increased by 1.1% monthly.

The forecast for the USD/SGD remains bearish with the Ichimoku Kinko Hyo Cloud trending lower, together with the Tenkan-sen and the Kijun-sen. With the latest move lower, price action can correct into its next horizontal support area, hugging the psychological 1.3000 level. The CCI is deep in oversold territory, and an advance may take it out of it before collapsing again. Can bears capitalize on favorable conditions? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

Should price action for the USD/SGD remain inside the or breakdown below the 1.3250 to 1.3335 zone the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Short Position
• Entry Level: Short Position @ 1.3300
• Take Profit Zone: 1.2995 – 1.3070
• Stop Loss Level: 1.3375

Should price action for the USD/SGD breakout above 1.3335 the following trade set-up is recommended:

• Timeframe: D1
• Recommendation: Long Position
• Entry Level: Long Position @ 1.3375
• Take Profit Zone: 1.3455 – 1.3495
• Stop Loss Level: 1.3335

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