Wednesday, 29 July 2009

How is the Ringgit doing now?

Following my earlier write-up on the Ringgit, (see Where is our Ringgit heading to?), I said that the Ringgit is likely to weaken more then pre-peg levels of RM3.80 to USD after a short period of strengthening.

The Ringgit (MYR)is now strengthening in line with my earlier forecast. MYR, currently at RM3.5170, has strengthen from the RM3.6005, it wave-b high. It is likely to head towards the RM3.4355 levels in the coming weeks to complete wave-B, where wave-c is 0.618x of wave-a. RM3.4333 is also the 50% FR levels of wave-A.
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2 comments:

  1. Adrian Tan29 July 2009 at 15:14

    Hey Ball, so I should wait till the RM = US$3.4 before I purchase a billion units so that I can earn at least US$100mil when it goes up later?

    The Filthy Rich IonBuck from an Alternate Timeline

    ReplyDelete
  2. Shooting Star29 July 2009 at 15:58

    Oh Filthy one, go ahead and be my guest.. why wait? go buy NOW!! :P

    ReplyDelete