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MALAYSIAN RINGGIT / U.S. DOLLAR

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MYRUSD trade ideas

USDMYR - 22Nov2021USDMYR - 22Nov2021 On the daily time frame, 1st Resistance at 4.1870 would be the focal point. If price can close above this level, there could be further upside due to monthly bullish setup. On the H8 timeframe, price reached the small inverse h&s target at 4.1830. With the 20EMA + 200MA crossover and UKOIL price pulling back, price could potentially continue its bullish momentum to 1st Resistance at 4.1990. This is for personal record purposes only, not financial advise or solicitation of trade.
Long
by TTMFS
USDMYR - 15Nov2021USDMYR - 15Nov2021 On the daily timeframe, USDMYR is moving inversely of UKOIL now. It have bounced back towards 50MA resistance for the first time since Aug21. We could expect it to continue its upward trend if UKOIL continues to drop and vice versa. On the H8 timeframe, price is above 20EMA & 50MA. If it continues its upward trend, we could expect it to have strong 1st Resistance at 4.1472. This is for personal record purposes only, not financial advise or solicitation of trade.
by TTMFS
USDMYR - Exchange RateIf you are earning Malaysia Ringgit(MYR) and your business requires you to use USD. It might be a good opportunity for you to change some of your MYR to USD. 4.139 is quite a good rate and I certainly won't take the risk if I have huge purchases that are due in the coming months. It is very obvious the US government has some plan in strengthening the USD. There are 2 major headlines you should be aware of. 1. US Secretary-General Janet Yellen said the debt limit is hurting the US. 2. Recent G20 Summit, President Joe Biden is going to push forth a minimum cooperate tax bill that will affect tech giants and corporate that set up manufacturing factories overseas. If you are patient you can wait for 4.0693 to stock up USD. But for it to happen, the market has to break and close below 4.139 on the Weekly Chart.
Short
by RaynLim