Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
British Pound/Malagasy Ariary (FOREX:GBPMGA)
Countertrend Up (+85) - GBPMGA 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 GBPMGA?
MarketClub looks at technical strength and momentum to determine if the timing is right for GBPMGA.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for GBPMGA
The long-term trend has been UP since Dec 4th, 2023 at 5700.1824
The intermediate-term trend has been UP since Nov 19th, 2023 at 5622.2625
The short-term trend has been UP since Nov 19th, 2023 at 5609.6224
Smart Scan Analysis for GBPMGA
Based on our trend formula, GBPMGA is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).