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Forex Trend Analysis Report

Prepared for you on Tuesday, April 23, 2024.

Chinese Yuan Renminbi Offshore/Malaysian Ringt (FOREX:CNHMYR)

Countertrend Up (+85) - CNHMYR is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.

Is it time to buy, sell, or avoid CNHMYR?

MarketClub looks at technical strength and momentum to determine if the timing is right for CNHMYR.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_CNHMYR
Open High Low CNHMYR Price Change
0.65887933 0.65894883 0.65774513 0.65833782 -0.00054200
Entry Signal

MarketClub’s Trade Triangles for CNHMYR

long term up The long-term trend has been UP since Oct 3rd, 2023 at 0.64630563

intermediate term up The intermediate-term trend has been UP since Mar 15th, 2024 at 0.66785384

short term down The short-term trend has been DOWN since Apr 22nd, 2024 at 0.65884692

Smart Scan Analysis for CNHMYR

Based on our trend formula, CNHMYR is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+85
Smart Scan Analysis for CNHMYR
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.65887933 0.65894883 0.65774513 0.65833782 -0.00054200
Prev. Close Volume Bid Ask Time
0.65887933 2024-04-23 11:33:07
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