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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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    Asian equities could take a boost after strong gains seen on US equities

    Asian equities may trade on the back foot as traders took profits during Wall Street session

    USDMYR Technical Analysis

    USDMYR Technical Analysis

    Asian equities observe positive start as optimism on Wall Street echoes

    Asian equities could trade with negative bias reflecting caution awaiting Nvidia’s earnings report

    Asian equities could take a boost after strong gains seen on US equities

    Asian equities likely to trade within narrow range following volatile session on Wall Street

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

    Asian markets may experience volatility as global participants eagerly await significant upcoming events

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USDMYR Technical Analysis

Dyogenes Rodrigues Diniz
July 4, 2023
in Forex
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USDMYR Technical Analysis
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On a day of low volatility the US Dollar is down -0.33% against the Ringgit and is now trading at 4.6485. The low market volatility can be explained by the US Independence Day holiday, when most US players are out of the market. From a technical point of view the USDMYR rose +10.88% between the 23rd of January and the 26th of June of this year. Recently, the Relative Strength Index (RSI) indicator entered an overbought region, signalling a possible exhaustion of buyers. On the 30th of June, USDMYR made a candlestick pattern known as a Bearish Pin bar (this candle usually has an important upper shadow and the body that does not exceed 30% of the total size of the candle). The USDMYR also formed a Classic Bearish Divergence between the 26th of May and the 26th of June, signalling a possible entry of the selling force. All these elements together point to a possible more important bearish retracement over the next few days in USDMYR. A downward move could take USDMYR into the 4.5800 and 4.5250 regions in a few days.

Tags: USD/MYR
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