Forex Trend Analysis Report
Prepared for you on Thursday, November 15, 2018.
Malaysian Ringt/Chinese Renminbi Yuan (FOREX:MYRCNY)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very 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 UP since Jun 25th, 2018 at 1.6363
The intermediate term trend has been DOWN since Nov 1st, 2018 at 1.6559
The short term trend has been DOWN since Nov 12th, 2018 at 1.6547
Smart Scan Analysis for MYRCNY
Based on a pre-defined weighted trend formula for chart analysis, MYRCNY scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).