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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.

FOREX_GBPMGA
Open High Low GBPMGA Price Change
5766.8189 5766.8189 5766.4489 5766.4489 -0.3700
Entry Signal

MarketClub’s Trade Triangles for GBPMGA

long term up The long-term trend has been UP since Dec 4th, 2023 at 5700.1824

intermediate term up The intermediate-term trend has been UP since Nov 19th, 2023 at 5622.2625

short term up 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).

+80
Smart Scan Analysis for GBPMGA
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
5766.8189 5766.8189 5766.4489 5766.4489 -0.3700
Prev. Close Volume Bid Ask Time
5766.8189 2023-12-08 20:32:20
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