Forex Trend Analysis Report
Prepared for you on Monday, October 2, 2023.
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 DOWN since Jul 17th, 2023 at 0.63864032
The intermediate-term trend has been UP since Aug 21st, 2023 at 0.63771281
The short-term trend has been DOWN since Oct 2nd, 2023 at 0.64247209
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).