USD/MYR (4.2375)

Malaysian Ringgit is expected to weaken further to around Rm4.3 to US$1.0 level to complete the sub-wave iii of its wave (ii) of C.

If USD/MYR can start moving lower after completing its wave (ii) of C at around 4.30, it will form a 'head and shoulder' reversal pattern. Wave C will have 5 waves with its wave (v) and C ultimately ends around Rm2.50 to 1USD and it will take another 5 to 7 years to complete its wave C.