USDMYR : Double Top
After a quarter of a century , we may see the strengthening of the Malaysian Ringgit. The completion of a 5 wave pattern implies potential weakness in Dollar against the Ringgit augmented with the possible double top formation.
Again, 3rd quarter 2023 to 1st quarter 2024 displayed a triple top with persistent resistance just under 4.8000 also suggest a major top is in place. The subsequent downward thrust fortifies that implication.
Again, 3rd quarter 2023 to 1st quarter 2024 displayed a triple top with persistent resistance just under 4.8000 also suggest a major top is in place. The subsequent downward thrust fortifies that implication.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.