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The prevailing uptrend for USD/SGD seems to be exhausted in an attempt to evidence 3 month's high but looking weaker as it was unable to sustain the same.
The leading oscillating indicator RSI (14) signals overbought scene as both the RSI curve and price line dipping convergence.
Slow stochastic is also signifying the overbought pressure as %K line crossover above 80 levels.
Since we anticipate the downtrend in this pair, the At-The-Money delta call of USD/SGD value indicates the option's equivalent position in the underlying market.
ATM calls at this bullish trend might be luring for many speculators or for hedgers.
Let's suppose for instance, USD/SGD ATM call option with Delta +0.5 can be delta hedged by selling 50,000 USD against SGD in the underlying spot FX market.
