There are a handful of macroeconomic reasons for Singapore dollar to weaken against the Malaysian Ringgit, but I'll point out only the First EW counts here. As you can see, I've drawn the wave down in 5 waves and the wave up in 3 waves. That is the wave A and wave B respectively. And so I will be expecting a 5-wave wave C down. A 1-to-1 measurement will bring this currency pair below 3.0.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.