USDMYR : Double Top

After a quarter of a century , we may see the strengthening of the Malaysian Ringgit. The completion of a 5 wave pattern implies potential weakness in Dollar against the Ringgit augmented with the possible double top formation.

Again, 3rd quarter 2023 to 1st quarter 2024 displayed a triple top with persistent resistance just under 4.8000 also suggest a major top is in place. The subsequent downward thrust fortifies that implication.