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.


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.


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


Flat in the 4.1368-4.1428 range.

Trading recommendations:

Trading in the 4.1368-4.1428 channel.