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SINGAPORE DOLLAR / MALAYSIAN RINGGIT

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SGDMYR trade ideas

MY Ringgit is in trouble… 3.45 to the SGD soon, 2023, the SGD/MYR rate should be looking about 3.45; and if this is so, then from end Oct (4Q2023) is possible for the rate to be 3.7ish. I do not know the economic fundamentals enough to comment, but the technicals are already pointing to that projection. Long ago, I heads up friends about the SGD/MYR going from 2.5-2.6 to 3/3.50. First part happened within a year. This was partly due to internal issues. Appears a similar pattern is starting to happen. Heads up!!
by Auguraltrader
Who will be HAPPY with this exchange rate ?Now, if you are staying in SG, sometimes when you head to the mall , you see long queues at the Money changer, then it is likely when the SGDMYR exchange rate is good. Malaysians who have vested interest back home will enjoy converting their SGD to a better Ringgit when they go home. Of course, those Singaporeans , maybe retirees who aspire to own a landed property at the price of a HDB flat are also happy as it means lesser Sing dollars needed to pay for the property. And when the border is open again (let's pray for this year) , then flocks of Singaporeans with more ringgits on hand due to good exchange rates will be happy to spend at JB be it watching movies or buying groceries. It is also possible that the price may hoover around the resistance area for a few months before we see a breakout ! So, patience is needed !
by dchua1969
2
2022-12-04: SGD VS MYR 1D (SEEING ANOTHER COMEBACK NEAR @ 3.40)Looking at the current chart of SGD vs. MYR . A pullback on MYR easing after POST-ELECTION in Malaysia. In conjunction of US POST-ELECTION event too. At the moment, we are heading to the closure of year 2022. Sighting that much of slow down on US Dollar just a bit. Just to ensure the rest of the world could enjoy that 3% banking interest or dividend. Back to SGD strength, this temporary pullback is not from the All-TIme-High basis on a few other indicators which is not shown here. SGD is given opportunities to make another come back nearing MYR3. 40 soon starting next year in 2023. - Hang Nujum Negara
Long
by NYC1976
2022-12-03: SGD VS MYR (SEEING ANOTHER COMEBACK NEAR @ 3.40)Looking at the current chart of SGD vs. MYR. A pullback on MYR easing after POST-ELECTION in Malaysia. In conjunction of US POST-ELECTION event too. At the moment, we are heading to the closure of year 2022. Sighting that much of slow down on US Dollar just a bit. Just to ensure the rest of the world could enjoy that 3% banking interest or dividend. Back to SGD strength, this temporary pullback is not from the All-TIme-High basis on a few other indicators which is not shown here. SGD is given opportunities to make another come back nearing MYR3.40 soon starting next year in 2023. - Hang Nujum Negara
Long
by NYC1976
SGDMYR 3.5 targetWas in a conversation and the SGDMYR exchange rate came up. Since 2016, Ihad thought that the SGDMYR would hit 3.50 as a target, a very painful target for many. Well, I was not right as it only breached 3.20 then and nicely consolidated. The 3.50 target is still in play, and now present to you technically how it is projected to be... Over the years since 2016, a multiyear triangle had been forming and 2021 seems to have broken out, retested and in 2022 April, launched upwards with the strong SGD. The strong SGD, and even stronger USD is going to propel the exchange rate to the 3.50 target ( Current projections point to 3.45)... target projected to hit by end of 2022. Technically, the Bollinger Bands are now expanding and the rate is pushing or leading the upper band. It has also been bouncing off the Monthly 55EMA. So, trend is going up for the next year or so. Heads up, it is more pain to come really. And we all thought 2020-2021 were bad... Take care folks.
by Auguraltrader
SGDMYR - Exchange RatesOn 20 Apr 2022, SGDMYR shot up to 3.1466. To most Singaporeans who have commitments in Malaysia or Malaysian who are earning SGD, is a no brainer to change their SGD to MYR. But that night at 10.25pm, right after my Live Session, I've told a group of entrepreneurs NOT to change their SGD to MYR just yet. If you could wait for a few days. On Fri, 22Apr2022 market close at 3.1538. Based on the candlestick pattern and the Harmonic Patterns formation, Bearish Crab Pattern, it would be a good idea to change some MYR that could cover your monthly expenses or commitment for the next 3-5months. It would not surprise me if the market retraces back to the 3.1255~3.0990 range when Market Open. Share this with your friends as they might benefit from this and there are a couple of hours for them to make the arrangements. Forex Trading doesn't always mean that one should only trade on the Spot Market, but you can benefit from your day to day expenses, your investment planning and such.
Short
by RaynLim
SGDMYR XEOn 29Jul21, Malaysia Ringgit has retested the previous low at 3.1348, which means 1SGD exchange for 3.1348MYR. If you are earning SGD and spending MYR, it is a good time to consider changing most of your expenses for the next few months to MYR because it is at its recent historical low. There is a high possibility that SGD may weaken against MYR or MYR may strengthen against SGD, in any way it is 60% unlikely that SGDMYR to go beyond(higher) than 3.1348MYR provided there isn't more shock to the market on Malaysia Political scene. If you are looking to short SGDMYR, just check if the spread is too much, if the spread is more than 5pips, it's too much.
Short
by RaynLim