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USDMYR

USDMYR heading to 4.165This is a historical study on how fibonacci spirals work in price cycling, back to 2016 November, ringgit start strengthening with the rebound of oil price. and the down cycling projection projected as 4.26, 4.11 and 3.87. Ringgit reach the previous high at 3.85 then start weakening. On the right side we have up cycling projection which indicating ringgit to reach 4.165 in the near term. As you can see fro the projection levels price found short term retracement 3.97 & 4.04 and the trend remain until we see lower low set up.
Short
by Johnkiew
Sticking the knife in for real pain=> Dark clouds continue to rest over EM, we are eyeballing a 4% move here against Malaysia. => Almost 90% of short term debt in Malaysia is covered by FX reserves whilst two thirds come in the form of short term borrowing. => If the banking system continues to feel pressure via uncertainty from Chinese officials then we are going to see some real pain here. => The risk to our thesis is that uncertainty around EM begins to fade, a scenario we unfortunately think has passed the point of no return in the global economy. => Good Luck
Long
by ridethepig
1