Latest update on my analysis.

High volume entering at 4.00x price.


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well I can feel some are rushing to convert some USD into MYR. too much thinking

u can see BNM foreign reserved are on uptrend. So I guess they are not interfering the currency movement as for now.

which means?

more are converting into MYR or converting into USD?

sorry a bit noobie on tis thingy

95% of the population can't control the market but only can participate. 5% of the population wealth has total control over it. They are the big player here.

BNM foreign reserves uptrend can mean BNM buying up foreign currencies by selling ringgit.

the big players are coming back home with their foreign $$?

how long ago is RM2.8?.

so it's means BNM is trying to stabilized MYR movement so not to make the currency too strong, which is bad for exports.

which also means there's some huge inflow of foreign funds into Malaysia.

correct?

Don't have to be players coming back home. Just imagine what would happen to the dollar if China decides to cut its currency reserves by half.

One function of currency reserves is to be used to stabilize the local currency. If we don't bother about currency stability, then we don't need currency reserves. We can always let the market dictate its value.

i take no responsible on my analysis. I could be wrong too cuz i m still learning to study the chart.

This is what i think lah... some very big institutions may have previously entered at price 4.05x then following by their second next transaction enters the market at this price 4.00 with even high volume. They are trying to buy at lower price to long the market so have a favourable high price to sell which i will look at the green zone price ~4.15x as their target. But overall in higher timeframe, the market is still very bearishness.

fuh if that happen, the situation could be bad.

and if not mistaken, China also hold quite big sum in US treasuries, single largest

okay. I understand.

buying in batch.

juz like some previously convert in batch. 3.80, 4 & 4.10

All this while China has been on an export-led boom, so they had refused to let their currency rise too high, which resulted in the accumulation of huge currency reserves. But if their plan to reform their economy to consumption-led goes full-speed ahead, then logically they would let their yuan rise and they can easily do that by dumping their really, really huge dollar reserves. If that happens, the dollar can potentially becomes toilet paper.

3.98 now!

Let it rise, let it rise,... waiting to convert to the USD and the SGD again,....

Best SEA currency as it appreciate 1.21% to 4.0098

pretty impossible for usd to strengthen back to >MYR 4.3 right?

Not really,... we don't know the effect will be whenthe Feds starts to signal rate hikes again,...

Pretty possible. If you look at Malaysia's past performance, they have no strength to hold against the USD. So >4.3 is very possible. Is just a matter of time.

Of course, personally I prefer a lower USD (more value for money for my shopping)