Technical analytics

USDMYR market technical outlook

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).


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.


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.


Flat inside the 4.0600-4.0764 range.

Trading recommendations:

Seeking for probable buy signals at 4.0600-4.0629.