SonicDeejay
Long

USD/MYR Malaysia Daily Update (11 Nov 2016)

FX_IDC:USDMYR   U.S. DOLLAR / MALAYSIAN RINGGIT
It just broke 4.46x main region with STRONG momentum. (Breaking wall with Bulldozer)
Once it is broken strongly UP.. More UPside ahead for this pair..

IMO , Malaysia economy is free fall with bad policy and with the depressed oil price.



Trade Safe,

s0nic

Comments

Fundamentally, most of the emerging currencies are bearish against US Dollar due to potential Donald Trump's policies like tax relief for businesses, protectionism on international trade, huge investment on infrastructure spending and etc.
I personally feel like the market is overreacting to potential Trump's actions.
Keep an eye on whether Trump will do what he said during his election campaign.

Technically, I support your view that if it break the resistance zone strongly and pull back weakly, it might be a great chance to entry the market.
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