USDMYR - 07Feb2022
On the daily, price is bouncing from ascending trendline support to 23.6% resistance at 4.1840. The price action is closing in at the apex of 2 trendlines. We will need to wait and see which direction it breaks out.
At the same time, we will also need to monitor oil price simultaneously as it seems to be over-extended and could reverse anytime.
This is for personal record purposes only, not financial advise or solicitation of trade.
On the daily, price is bouncing from ascending trendline support to 23.6% resistance at 4.1840. The price action is closing in at the apex of 2 trendlines. We will need to wait and see which direction it breaks out.
At the same time, we will also need to monitor oil price simultaneously as it seems to be over-extended and could reverse anytime.
This is for personal record purposes only, not financial advise or solicitation of trade.