Forex Trend Analysis Report
Prepared for you on Friday, October 20, 2017.
Malaysian Ringt/South Korean Won (FOREX:MYRKRW)
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 MYRKRW
The long term trend has been UP since May 4th, 2017 at 262.645
The intermediate term trend has been DOWN since Oct 13th, 2017 at 267.315
The short term trend has been DOWN since Oct 20th, 2017 at 267.495
Smart Scan Analysis for MYRKRW
Based on a pre-defined weighted trend formula for chart analysis, MYRKRW scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).