SGDMYR (SHORT)(DOWNTREND)

SHORT : 2.9430
STOP LOSS : 2.9850
TAKE PROFIT: 2.8717

TECHNICAL ANALYSIS:
- EMA SHOWS DOWNWARDS SLOPE OF THIS CURRENCY PAIR
- RSI HAS 3RD TOUCH ON SHORT TERM UPTREND LINE WHICH SHOWS WEAKENING UPTREND. SHOULD THEY BE ANY BREAKOUT OF THIS LINE WILL CONFIRM A HEALTHY DOWNTREND FORMATION
- SHORT AT UPPER LEVEL OF LINEAR REGRESSION CHANNEL OF CURRENCY PAIR
- SHORT BELOW FIBONACCI CONFLUENCE LEVEL