Forex Trend Analysis Report
Prepared for you on Friday, November 16, 2018.
Malaysian Ringt/Hong Kong Dollar (FOREX:MYRHKD)
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 MYRHKD
The long term trend has been DOWN since May 8th, 2018 at 1.97240
The intermediate term trend has been DOWN since Apr 22nd, 2018 at 2.00950
The short term trend has been UP since Nov 15th, 2018 at 1.87655
Smart Scan Analysis for MYRHKD
Based on a pre-defined weighted trend formula for chart analysis, MYRHKD scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).