FX: USDMYR Completed 6-Yr Ascending TriangleUSDMYR completed a 6 year long ascending triangle. Watch out for target level $5.25
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USDMYR(Us Dollar Vs Malaysian Ringget)hi
MYR chart Built demand zone and we can take in position there for 1:8 RR ,
its good , isn't it?
Malaysia Ringgit. Head & ShoulderA drop from Nov 2022 peak (red arrow) shows a 3-wave ABC corrective move.
this follows by an impulsive move (5 waves) starting Feb 2023.
we might see a temporary pullback, a break below the head, and should pattern to RM4.3 before moving higher.
USDMYR probably will break 5.00. 2/March/23.USDMYR probably last leg up by breaking all time high and 5.000 to reach @ 5.1620 +/-..
usdmyr going above 5.0USDMYR successfully retraced and rebounded at weekly 200 moving average.
USDMYR is very bullish uptrend when still above 200 ma weekly.
It will over the previous high 4.8 (might reach 5.2 or more higher), all is depended on the strength of USD index (DXY).
Disclaimer: Own study research, not tradin
Does MYR make corrections before continuing to surge?We use Elliott Wave Theory to forecast future prices. as simple as the rules. i.e., if wave 4 exceeds wave 1, the counting is wrong, etc., it shall be recounted and changed. The main point is to get the forecast and project the main direction in which we may find opportunities for entries. It is imp
USD/Malaysian Ringgit : Major Top ???Prices resisted 2008 high 4.7750 providing a potential double top scenario if further slide in coming days. This week's close was on top of the triangle and at 0.618 retracement value may say otherwise.
Projected values appear at around 5
USDMYR Simple Chart AnalysisUSDMYR - This chart can use to monitor our country economy too, hopefully the double top here can indicate that our MYR can continue to be strengthen under the unity government.
How to view the guidance via chart ( Refer back to pin message guidance if to trade )
Red Line = Support
Blue Line = R
USD/MYR: A sustained move above 4.7500 looks unlikelyUSD/MYR faces prospects for extra gains, although a convincing breakout of 4.7500 appears not favoured for the time being, notes Markets Strategist Quek Ser Leang at UOB Group’s Global Economics & Markets Research.
“We expected USD/MYR to strengthen last week but we were of the view that ‘4.7500 is
US Dollar Strong, MYR weakMy Prediction base on technical Analysis Elliot Wave, Chart Pattern and Fibonacci Extension EW 3
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