Technical analytics

USDMYR market technical outlook

Daily chart:
ADX indicator resides in a very weak flat zone, therefore sideways trend of the pair inside Bollinger bands will be extended (4.1764-4.1959 range).


Local market has signs of contracting consolidation in the range between support level 4.1792 and resistance 4.1897. Here there are also no signs of this tendency ending.


As we see all major time-frames support undirected horizontal trend. Trading range on hourly chart is range-bound between 4.1792-4.1800 and 4.1845. Thus we can consider short-term trades from the boundaries of this channel.


Flat in the 4.1792-4.1845 range.

Trading recommendations:

Trades to both sides inside the 4.1792-4.1845 range.

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