Free Trial

Increased Correction Risk *RES.....>

DOLLAR-MYR TECHS
DOLLAR-MYR TECHS: Increased Correction Risk
*RES 4: Myr4.1725 - Lows Nov 10 & 15 now resistance 
*RES 3: Myr4.1669 - 21-DMA 
*RES 2: Myr4.1423 - High Nov 24 
*RES 1: Myr4.1311 - High Nov 28
*PRICE: Myr4.0877 @ 2300GMT
*SUP 1: Myr4.0799 - Daily Bear channel base 
*SUP 2: Myr4.0626 - Bollinger band base 
*SUP 3: Myr4.0370 - Monthly Low Sept 8 2016 
*SUP 4: Myr4.0135 - Low Aug 26 2016
*COMMENTARY: The 100-DMA capped rallies in recent weeks resulting in a sell-off
to repeated fresh 2017 and 13mth lows with bears focused on Myr4.0135-0370.
Immediate pressure is now on the bear channel base. O/S daily studies and the
Bollinger base remain key concerns. Bulls need a close above Myr4.1423 to ease
immediate bearish pressure and above Myr4.1725 to shift immediate focus back to
Myr4.2020-2050 where the 55-DMA is situated.

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' }); });