USDMYR trade ideas
USD/MYR-TOWER TOPCandlestick pattern Tower Top emerged, time to reverse. Post-Malaysia Election, ringgit weakened. Rise from 3.948( 9/5/18) to 4.049 (3/7/18) to conclude wave i (probably?). Based on the reversal pattern (tower top), supported by the RSI that shown overbought signal and bearish divergence, we can expect USD/MYR will move downward for correction. Possible target 3.95 (Fibonacci 0.5).
USDMYR - More Room for DownsideLaburlah's Daily Complimentary (02-APR, Monday):
USDMYR
Technical Analysis Breakdown
1. Trend: Bearish
2. RSI & Stochastic: Bearish
3. Remarks: Fallout from MA200
4. Bollinger band: Cruising downward
5. Resistance: 3.92
Disclaimer: The abovementioned is purely for sharing purpose, you should seek advice from relevant personnel and do your own analysis before making your move.