MALAYSIA: Country Wrap: BRICs Investment in Malaysia Rises

• RES 4: 0.8835 High May 3 2023  
• RES 3: 0.8800 Round number resistance
• RES 2: 0.8781 2.236 pro of the Mar 3 - 11 - 28 price swing
• RES 1: 0.8769 High Jul 27 and the bull trigger 
• PRICE: 0.8680 @ 06:33 BST Jul 29
• SUP 1: 0.8666/49 Low Jul 28 / 20- day EMA
• SUP 2: 0.8581 50-day EMA 
• SUP 3: 0.8540 Low Jun 30 
• SUP 4: 0.8508 Low Jun 27

EURGBP reversed sharply lower from Monday’s intraday high. For now, the trend set-up remains bullish, however, Monday’s price pattern - a bearish engulfing candle - does signal a potential short-term reversal. A continuation lower would expose support at the 20-day EMA, at 0.8649. Clearance of this average would signal scope for a deeper retracement. For bulls, a move through 0.8769, the Jul 27 high, would confirm a resumption of the uptrend.

• RES 4: 107.360 High Jul 22 and a key resistance  
• RES 3: 107.273 50-day EMA
• RES 2: 107.233 20-day EMA 
• RES 1: 107.205 Low Jul 18
• PRICE: 107.140 @ 06:06 BST Jul 29
• SUP 1: 107.010 Low Jul 25 and a bear trigger 
• SUP 2: 107.993 1.500 proj of the Jul 7 - 11 - 22 price swing 
• SUP 3: 106.964 1.618 proj of the Jul 7 - 11 - 22 price swing
• SUP 4: 106.928 1.764 proj of the Jul 7 - 11 - 22 price swing

Schatz futures traded sharply lower last week resulting in a break of key short-term support at 107.120, the Jul 11 low and a bear trigger. However, the contract has recovered from Friday’s low and recent price patterns highlight a potential base. A continuation higher would expose resistance at the 20-day EMA, at 107.233. The 50-day EMA is at 107.273. On the downside, key support and the bear trigger has been defined at 107.010, the Jul 25 low.