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MALAYSIAN RINGGIT / U.S. DOLLAR

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MYRUSD trade ideas

U.S. DOLLAR / MALAYSIAN RINGGIT Price Action: The price appears to be attempting a consolidation near the lower band, which could suggest that the sharp bearish trend may be slowing down or preparing for a reversal. Recent price action is forming what looks like a potential base around the 4.25 - 4.30 range, though it is too early to confirm a reversal or bottom formation. Support: The current support zone lies near the 4.30 level, where the price has stalled. Resistance: Immediate resistance is near the 4.45 to 4.50 range, aligned with the moving average and the upper Bollinger Band. A break above this could suggest a potential shift in the trend or at least a relief rally. However, strong bearish pressure persists as shown by the successive red candles, suggesting continued selling pressure. Bearish: The current momentum suggests further downside could occur unless we see a reversal pattern or a break above the moving average.
Short
by Sahrin
Title: Ringgit Rally Fuels Foreign Bond Inflows: A Deep DiveThe Malaysian ringgit has experienced a substantial appreciation, driven by robust foreign investment in the domestic bond market. A surge in capital inflows, totaling RM5.5 billion in July alone, has propelled the ringgit's performance. This analysis delves into the underlying economic factors driving this trend, examining key indicators and assessing the outlook for sustained growth. While the current trajectory is promising, investors must remain cognizant of potential global economic headwinds. Key Points: Strong foreign inflows into Malaysian bonds Ringgit's appreciation driven by multiple factors Deep dive into economic indicators shaping USD/MYR Assessment of Malaysia's economic fundamentals Cautious outlook amid potential global challenges Key Drivers of the Ringgit Rally: Currency Appreciation: Investors are buying bonds unhedged, betting on further ringgit gains. Strong Domestic Economy: Malaysia's economic robustness and expected interest rate stability bolster investor confidence. Global Factors: Anticipated Federal Reserve rate cuts weakening the USD benefit the ringgit. Economic Indicators Influencing USD/MYR: Interest Rate Differentials: Higher local rates attract foreign capital, strengthening the ringgit. Inflation Rates: Low inflation supports currency value. T rade Balance: Surpluses strengthen the ringgit, reflecting Malaysia's export strength. Economic Growth: Domestic consumption and government spending drive economic growth, enhancing the ringgit's appeal. Political Stability: A stable political climate attracts investment, supporting the currency. Global Economic Conditions: Global trends and geopolitical events affect investor risk appetite and currency flows. Outlook: Malaysia's diversified economy, fiscal prudence, and growing middle class underpin the ringgit's strength. Efforts to boost foreign direct investment and exports further support currency appreciation. However, global uncertainties, US monetary policy shifts, and geopolitical tensions could introduce volatility.
Long
by signalmastermind
i like this analysis a lot.leave a commenthi 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 you. Do conduct your own due diligence and consult your financial advisor before making any investment decisio
Long
by expay24
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 unlikely to come into view’.” Our view was wrong as USD/MYR rose to a high of 4.7370 before closing at 4.7360. Not surprisingly, conditions are overbought.” “However, as long as 4.7000 is not breached (minor support is at 4.7150), USD/MYR could rise above 4.7500 this week. In view of the overbought conditions, USD/MYR is unlikely to be able to maintain a foothold above this level. Looking ahead, the next resistance above 4.7500 is at 4.7650”.
Long
by mustaqim.mazuky