Technical analytics

USDMYR market technical outlook

USD/MYR
Daily chart:

Currency pair remains under pressure and taking mid-term outlook we can say, that market is aimed at lower Bollinger band (4.0359).

H4-chart:

Local trading range doesn’t exceed the scope of Bollinger bands (4.0488-4.0764) being in an apparent sideways channel. This tendency most likely will be extended, that is shown by correcting ADX.

H1-chart:

Serious cluster of levels at the downside may guard the pair from tumbling below the 4.0600-4.0629 region today. Thus today’s forecast is flat in the 4.0600-4.0764 range.

Expectations:

Flat inside the 4.0600-4.0764 range.

Trading recommendations:

Seeking for probable buy signals at 4.0600-4.0629.