SGD and MYR - future directions
Based on USDSGD long term chart, USDSGD may reach 1.60. However from short term USDSGD chart, the price target of 1.60 is difficult due to ascending wedge pattern. From chart of USDSGD vs STI, USDSGD has inverse relationship with STI due to export-dependent Singapore economy. If you are bearish on Singapore economy, then the USDSGD target of 1.60 is possible.
USDSGD long term chart
USDSGD short term chart
USDSGD vs STI
USDMYR long term chart
USDMYR short term chart
SGDMYR short term chart
While USDMYR is in the similar situation of USDSGD, how about SGDMYR? In the previous post, it was forecasted that SGDMYR may reach 2.45-2.48. Due to weakened Singapore economy, the target of 2.45-2.48 for SGDMYR has to be delayed. In the short term, resistance for SGDMYR is 2.425
23/4/2011 2011 analysis of MYR, SGD and USD
Me !