Forex Trend Analysis Report
Prepared for you on Monday, January 21, 2019.
Malaysian Ringt/Chinese Renminbi Yuan (FOREX:MYRCNY)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for MYRCNY
The long term trend has been DOWN since Dec 4th, 2018 at 1.64245
The intermediate term trend has been DOWN since Jan 13th, 2019 at 1.64315
The short term trend has been UP since Jan 21st, 2019 at 1.65000
Smart Scan Analysis for MYRCNY
Based on a pre-defined weighted trend formula for chart analysis, MYRCNY scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).