- Malaysian authorities have arrested over 3,300 undocumented workers and 84 employers in the country’s latest crackdown
- Activists are concerned about possible abuses of workers’ rights, while labor shortages continue to plague business owners
- Malaysia had 5% growth for Q2 given the strong trade for May 2017 which has exceeded forecasts, growing by 31.5% to RM153.3bil against RM116.6bil a year ago
Overall, the bias in prices is: Sideways.
Short term: Prices are stalling.
Intermediate term: Prices are ranging.
The projected upper bound is: 4.30.
The projected lower bound is: 4.26.
The projected closing price is: 4.28.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 5 white candles and 3 black candles for a net of 2 white candles. During the past 50 bars, there have been 23 white candles and 21 black candles for a net of 2 white candles.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 48.3875. This is not an overbought or oversold reading. The last signal was a sell 17 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 41.78. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 26 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -99. This is not a topping or bottoming area. The last signal was a buy 1 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 4 period(s) ago.
Rex Takasugi – TD Profile
FOREX MYR= closed down -0.008 at 4.282. Volume was 75% above average (neutral) and Bollinger Bands were 72% narrower than normal.
Open High Low Close Volume
4.285 4.290 4.281 4.282 68
Short Term: Neutral
Intermediate Term: Bullish
Long Term: Bearish
Moving Averages: 10-period 50-period 200-period
Close: 4.29 4.29 4.37
Volatility: 2 3 4
Volume: 40 40 38
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
FOREX MYR= is currently 2.0% below its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume out of MYR= (mildly bearish). Our trend forecasting oscillators are currently bullish on MYR= and have had this outlook for the last 22 periods.
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