On 29Jul21, Malaysia Ringgit has retested the previous low at 3.1348, which means 1SGD exchange for 3.1348MYR.
If you are earning SGD and spending MYR, it is a good time to consider changing most of your expenses for the next few months to MYR because it is at its recent historical low.
There is a high possibility that SGD may weaken against MYR or MYR may...
Now, if you are staying in SG, sometimes when you head to the mall , you see long queues at the Money changer, then it is likely when the SGDMYR exchange rate is good. Malaysians who have vested interest back home will enjoy converting their SGD to a better Ringgit when they go home.
Of course, those Singaporeans , maybe retirees who aspire to own a landed...
SHORT : 2.9430
STOP LOSS : 2.9850
TAKE PROFIT: 2.8717
- EMA SHOWS DOWNWARDS SLOPE OF THIS CURRENCY PAIR
- RSI HAS 3RD TOUCH ON SHORT TERM UPTREND LINE WHICH SHOWS WEAKENING UPTREND. SHOULD THEY BE ANY BREAKOUT OF THIS LINE WILL CONFIRM A HEALTHY DOWNTREND FORMATION
- SHORT AT UPPER LEVEL OF LINEAR REGRESSION CHANNEL OF CURRENCY PAIR
Malaysia raises key rate for the first time since 2014. Coupled with a hawkish tone from Bank Negara Malaysia, we are likely to see the Malaysia Ringgit continue strengthening against the Singapore Dollar.
Price has broken the inner trend line structure at 3.0759 late 2017. This opens up more downside potential for SGD/MYR.
However, we are seeing a 5-wave...