SGD/MYR technical analysis - Jan 2017

There was a rising wedge and an inverse HS in play. It had broken up the downtrend channel too. Now it is obvious the bull win and the inverse HS prevail. The price broke the neckline of the of inverse HS and now back-testing it. It seems to hold well. The measured move is around 3.25 - 3.28.

SGD/MYR technical analysis - 7 Jun

Many are excited when SGD/MYR goes above $3 again. A friend of mine recently informed me about it and I told him that it was at an interesting level as I see that it is at the upper channel of the downtrend channel. The downtrend channel could be a bull flag but based on fundamental analysis, considering SG wouldn't let SGD appreciate too much and oil price keeps going up, the probability is higher that this is going back down below 3 and back to the lower channel, 2.80. Thus I told him I need a couple more weeks for confirmation. Once the price drop back inside the channel, 2.80 is just a matter of time. The graveyard candle also reinforce the notion that price is going down.

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.