SGDMYR (Singapore Dollar against Malaysia Ringgit): 25 May 2018, Friday, 12.22pm Singapore Time

SGDMYR Chart 1(Singapore Dollar against Malaysia Ringgit): 

25 May 2018, Friday, 12.22pm Singapore Time

(Click on Technical Chart above to Expand)

Attached above is the Technicals for SGDMYR foreign exchange pairing -- Singapore Dollar against the Malaysia Ringgit. As more and more revelations are laid transparently by the new government in power, the financial markets may soon realise that it had been pricing in the Malaysia Ringgit wrongly for the past 1 to 2 years over-valuing the Ringgit. The SGDMYR has just broken up the black resistance trend line in SGDMYR Technical Chart 1. There was a yellow symmetrical rounding bottom prior to this break-up in SGDMYR, meaning that the move is with high reliability. The yellow symmetrical rounding for the immediate short term move can hence be projected as on chart. The MYR (Ringgit) will be sold off even more for the SGD in the coming weeks and months. As markets had been pricing in the Ringgit wrongly (over-valuation of MYR), the Ringgit has to regress to the mean as follows in SGDMYR Technical Chart 2:

SGDMYR Chart 2 (Singapore Dollar against Malaysian Ringgit): 

25 May 2018, Friday, 12.22pm Singapore Time

(Click on Technical Chart above to Expand)

This would mean a historical low for the Malaysian Ringgit against the Singapore Dollar never ever seen before. The brown trajectory in SGDMYR Technical Chart 2 is the expected long term trajectory following the short term yellow trajectory in SGDMYR Technical Chart 1. The current standard deviation in the SGDMYR is completing now (as illustrated on chart), and a regression to the mean (significant depreciation of MYR) is taking place now. This will bring the SGDMYR to the 3.3500-3.5500 band in exchange rate in the next 1 to 3 years, with a mean of 2 years. 

Side note:
Malaysia exporters and export-oriented companies whose share prices soared to the sky rapidly in the 2014/2015 sharp MYR-depreciation will soar again. Examples include those of rubber, rubber gloves, etc. Promising ones that will benefit from the great Ringgit depreciation include Top Glove Corporation (KLSE: 7113).

Donovan Norfolk Ang

USDMYR: 22 June 2014, Sunday, 3.20pm Singapore Time

USDMYR: 22 June 2014, Sunday, 3.20pm Singapore Time

Technical Analysis of US Dollar vs Malaysia Ringgit (USDMYR) is as per illustrated in Daily Chart above.
The chart pre-signals that Malaysia and Malaysia economy may run into some trouble from here on.
This financial market turmoil to come would most possibly result from the high amount of debts piled up by Malaysia.

Note that since the USD is on the left side and MYR is on the right side of the forex pair USDMYR, upwards move in the chart above is an appreciation of USD and depreciation of Malaysia Ringgit relatively. The vice-versa is also true.

USDMYR has already just made the Black Secular Trendline illustrated in the chart above a powerful support and in addition, is currently backtesting the Red Classical Line as a Major Support. A successful support on Red Line is a double-confirmation of bear market transition for Malaysia Stocks and Equities markets.

 Malaysia Ringgit is receiving double-confirmation of long term bear market in this debts market movement.

Bouncing off black lines successfully as support and bouncing off red line successfully as support means bye-bye to Malaysia Financial Markets.

Side note:

USDMYR has the potential to move way beyond 4.000.
Target of this long term run: break up 4.50 for a move beyond 5.00.

(Extremely export-oriented stocks will benefit; industries that need import of raw materials or need to import goods and services as part of its business activities will get hit)

Donovan Norfolk Technical Rating:
Bearish
(USDMYR to move big wave up meaning MYRUSD , Malaysia Ringgit, to move big wave down)
MYRSGD (Ringgit with respect to Singapore Dollar) will also be bearish
(Sell on Rebounds)

Donovan Norfolk Ang

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