Forex Trend Analysis Report
Prepared for you on Friday, August 7, 2020.
Chinese Yuan Renminbi/Malaysian Ringt (FOREX:CNYMYR)
Crossroads (-60) - CNYMYR is struggling to move into a solid trend. Beware of choppy markets and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid CNYMYR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYMYR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYMYR
The long-term trend has been UP since Jul 1st, 2020 at 0.62156200
The intermediate-term trend has been DOWN since Jul 29th, 2020 at 0.60603702
The short-term trend has been DOWN since Aug 7th, 2020 at 0.60184254
Smart Scan Analysis for CNYMYR
Based on our trend formula, CNYMYR is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).