Free Trial

Immediate Focus On Bear Channel....>

DOLLAR-MYR TECHS
DOLLAR-MYR TECHS: Immediate Focus On Bear Channel Base
*RES 4: Myr4.0152 - 21-DMA 
*RES 3: Myr4.0050 - High Jan 11 
*RES 2: Myr3.9850 - High Jan 12 
*RES 1: Myr3.9450 - Low Jan 17 & 18 now resistance
*PRICE: Myr3.9300 @ 2300GMT
*SUP 1: Myr3.9215 - 2018 Low Jan 22 
*SUP 2: Myr3.9077 - Daily Bear channel base 
*SUP 3: Myr3.8800 - Low Apr 29 2016 
*SUP 4: Myr3.8470 - 2016 Low Apr 13
*COMMENTARY: Bearish pressure resulted in fresh 2018 & 3+yr lows with bears
taking comfort as the pair trades below the 200-WMA (3.9443) with immediate
bearish focus on tests of the bear channel base and overall focus on 2016 lows.
O/S daily studies remain the key concern for bears. Bulls now look for a close
above Myr3.9689 to ease bearish pressure and above Myr4.0260 to shift focus to
Myr4.0854-1423.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
}); window.REBELMOUSE_ACTIVE_TASKS_QUEUE.push(function(){ window.dataLayer.push({ 'event' : 'logedout', 'loggedOut' : 'loggedOut' }); });