Technical analytics

USDMYR market technical outlook

Daily chart:

Trading goes inside lower Bollinger bands (4.1184-4.1465). ADX remains in a weak zone, therefore tendency for flat appears to stay in place.

H4-chart:

Locally we also note utmost weakness of ADX indicator and sideways mode of trend. Trading range doesn’t exceed the scope of Bollinger bands (4.1275-4.1465) so far.

H1-chart:

On hourly chart passiveness of ADX can be observed as well. Market stays in the 50-pip channel 4.1368-4.1428.

Expectations:

Flat in the 4.1368-4.1428 range.

Trading recommendations:

Trading in the 4.1368-4.1428 channel.

 

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