SGD/MYR and SGD/CNY technical analysis

Back then in Feb, based on the technical analysis I did, I told a friend about the level that SGD/MYR and SGD/CNY would go to. Now SGD/CNY has gone up to around 4.84 and drop to around to around 4.75 while SGD/MYR has drop to around 2.84 and back up to 2.96. This is the wonder of technical analysis that school does not teach. No matter how much hard work you put in work also can't find this kind of satisfaction feeling after your analysis is right.

For SGD/MYR, though the monthly TF is showing uptrend could resume, other TF is hinting that downtrend continues. If so, I see my target could be reach eventually.

SGD VS China Yuan technical analysis - May

I posted in March that it will hit the resistance level. Now it is consolidating at the resistance levels. I am watching for it to go up to 5-5.2 after this consolidation.

Related post: http://tachartreading.blogspot.com/2016/03/sgdcny-technical-analysis.html

SGD VS China Yuan technical analysis

If the W pattern is into play, I expect SGD/CNY to move to around 5.0. Now it is at resistance. I believe traders will start to short it but due to China slowing economy, yuan will continue to devalue a bit more. Eventually surpassing the resistance trendline will lead the price to ~5.0 which I will consider change some CNY to keep for longer term.

Related post: http://tachartreading.blogspot.com/2016/05/sgd-vs-china-yuan-technical-analysis-may.html