Forex Trend Analysis Report
Prepared for you on Wednesday, July 18, 2018.
Malaysian Ringt/Chinese Renminbi Yuan (FOREX:MYRCNY)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with 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 UP since Jun 25th, 2018 at 1.63630
The intermediate term trend has been UP since Jun 19th, 2018 at 1.61905
The short term trend has been DOWN since Jul 18th, 2018 at 1.64640
Smart Scan Analysis for MYRCNY
Based on a pre-defined weighted trend formula for chart analysis, MYRCNY scored +85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).