Forex Trend Analysis Report
Prepared for you on Monday, November 23, 2020.
Chinese Yuan Renminbi Offshore/Malaysian Ringt (FOREX:CNHMYR)
Sidelines Mode (+55) - CNHMYR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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.
MarketClub’s Trade Triangles for CNHMYR
The long-term trend has been UP since Sep 30th, 2020 at 0.61408849
The intermediate-term trend has been UP since Sep 30th, 2020 at 0.61408849
The short-term trend has been DOWN since Nov 18th, 2020 at 0.62468499
Smart Scan Analysis for CNHMYR
Based on our trend formula, CNHMYR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).