Malaysia Ringgit sneaked out of my radar...

Malaysia Ringgit has always been there in my Forex Layout. Somehow, I do not take much note of it. Probably because I am quite involved in news about Malaysia, I do not see Malaysia to have a future under the BN umbrella. Knowing my country will for over 40 years, I know well that they have very little determination to push anything remotely beneficial to the country through.

So being too fundamental about Malaysia actually caused me to ignore signs that MR is rising? I was looking at its rise but I was in self denial that this could actually happen?


Fig 1 Malaysian Ringgit Weekly Chart

So as I look at the chart now, it has gone quite a great length. But then this also means its indicators Stochastic and RSI is toppish at the moment (especially Stochastic). I gather that this currency should be doing some correction for the next few weeks starting next week, afterall, it just broke out on the descending side of the Gann Grid. Nevertheless, a gap also have a measurement like a flag, if it is only half way there. So the eventual objective should likely be 43.7.