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2021年迪拜外汇博览会获颁赠
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Capital Finance International Magazine (CFI.co)颁赠
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2021年迪拜外汇博览会获颁赠
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Ultimate Fintech 2021年颁赠
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Capital Finance International Magazine (CFI.co)颁赠
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Capital Finance International Magazine (CFI.co)颁赠
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荣获2019年City of London Wealth Management Awards
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2017年伦敦财富管理奖
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2021年埃及Smart Vision Investment Expo博览会获颁赠
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CFI.co于2021年颁赠
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2013最佳创新外汇平台奖
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荣获2023年City of London Wealth Management Awards
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荣获2022年City of London Wealth Management Awards
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CFI.co于2022年颁赠
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2021年迪拜外汇博览会获颁赠
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Capital Finance International Magazine (CFI.co)颁赠
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Capital Finance International Magazine (CFI.co)颁赠
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荣获2019年City of London Wealth Management Awards
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Shares Magazine 授予 UK Forex Awards 2018
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market analysis
【XM Group】--USD/MYR Analysis: Slight Move Lower in Thinly Traded Holiday Markets
Risk Warning:
The purpose of information release is to warn investors of risks and does not constitute any investment advice. The relevant data and information are from third parties and are for reference only. Investors are requested to verify before use and assume all risks.
Hello everyone, today XM Forex will bring you "【XM Group】--USD/MYR Analysis: Slight Move Lower in Thinly Traded Holiday Markets". I hope it will be helpful to you! The original content is as follows:
The USD/MYR has managed to see some lower trading and is near the 4.4700 ratio at the time of this writing, this as volumes remain extremely low as holiday markets demonstrate quiet and caution.
Having trading lower to the 4.4700 ratio it now occupies, the USD/MYR has accomplished a slight selloff. Before speculators get too excited and decixmcnglobal.COmde to try and jump on a sustained reversal lower, they must understand trading volumes in Forex and the USD/MYR are extremely thin. Holiday markets are in full effect as global financial institutions remain shuttered or minimally staffed.
The USD/MYR was trading near the 4.5150 ratio on Friday of last week, a high that was last seen in the first week of August. The ability to come off of the high is interesting, but before speculators make too much of the lower move achieved since the end of last week, they need to understand it is possible large players who need the USD may not be active for the moment.
USD/MYR Correlations to the Broad Forex Market
The price action of the USD/MYR the remainder of this week and next will continue to see extremely light trading. Retail traders who want to participate in the currency pair should be cautious and think twice before participating. Technical perspectives in holiday conditions are often changed with the blink of an eye. The movement lower in the USD/MYR should be treated skeptically.
Traders also need to be aware the USD/MYR offers a large spread on typical trading days, now because of the holidays being celebrated, globally the difference between the bid and ask is further apart. Speculators who insist on pursuing the USD/MYR over the near-term are recommended to use entry orders with specific prices, this so ‘fills’ meet expectations. The USD/MYR remains correlated to the broad Forex market, but price action in the near-term may look rather hard to define.
USD/MYR and Behavioral Sentiment Views
Global Forex conditions continue to see strong USD centric notions. Risk adverse trading remains rather pronounced and most major currencies are struggling against the USD, including the USD/MYR. However, the bullish trend that has been seen since early October in the currency pair remains under values which were seen in the spring and early summer of 2024 in the Malaysian Ringgit.
- The Malaysian Ringgit has done a fairly good job of retaining value even though it has certainly been weaker in recent months.
- Shifting behavioral sentiment globally will be a key element in the USD/MYR, and nervous conditions may remain the status for the next handful of months.
- For USD/MYR speculators the 4.5000 level could prove to be interesting in the near-term.
- Again, traders wanting to pursue the USD/MYR today and tomorrow should be conservative with their wagers.
USD/MYR Short Term Outlook:
Current Resistance: 4.4760
Current Support: 4.4670
High Target: 4.4850
Low Target: 4.4590
The above content is all about "【XM Group】--USD/MYR Analysis: Slight Move Lower in Thinly Traded Holiday Markets", which is carefully compiled and edited by XM Forex editor. I hope it will be helpful for your trading! Thank you for your support!
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