myr is very undervalued shorting usd for long term profit bear wave found
USD MYR showing raising wedge pattern. Hopefully we can get a recovery of the Malaysian Ringgit in the second half of the year with a break below 4.65.
I cheked USDMYR as requested from a follower. Price is bullish and i don't think it will stop to rise. It' breaking above resistance and i expect the price to reach next key area at 4.9 before a small pullback
The method used to see the market trend is by using Vortex.
Then MYR will reach RM5 at the end of this 2023. Let's call it NTRMN but now it is getting worse than before. The worst in 25 years has been achieved
Break Resistance Can Going To Higher All Time High (ATH)
If we zoom out, FX_IDC:USDMYR it is in the range of the rising wedge, which is a bearish formation. This means that at some point, when it hits the highest level in the range-in this case, 4.77, which is the highest since 1997-it will react to that level and potentially reverse downwards, further strengthening the value of our Ringgit against the USD. Hopefully,...
RHB Research has not ruled out that the Ringgit may hit RM5.00 against the US dollar in the medium-term. The forecast from the research house comes as the initial short-term target of 4.60 was surpassed today, leading to a revised near-term target of 4.70, with a potential print at RM4.75.
hi every one complete pullback to the trendline with 1% profit Potential The information provided on this Page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. this page does not recommend that any cryptocurrency should be bought, sold, or held by...
USDMYR completed a 6 year long ascending triangle. Watch out for target level $5.25
hi MYR chart Built demand zone and we can take in position there for 1:8 RR , its good , isn't it?
Self-explanatory, you know where this is heading. Personal opinion, not financial advice.
A 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 last leg up by breaking all time high and 5.000 to reach @ 5.1620 +/-..
USDMYR 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 trading advice.
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 impossible to predict perfect patterns or price points.
Prediction on MYRUSD price based on EW analysis. There will be correction on the price estimated until the previous wave 4, which causing the MYR to be strengthen against USD.
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 5.17-5.22 zone. Are we...