Forex Trend Analysis Report
Prepared for you on Saturday, July 2, 2022.
British Pound/Malagasy Ariary (FOREX:GBPMGA)
Long-Term Downtrend (-90) - GBPMGA is in a strong downtrend that is likely to continue. While GBPMGA is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
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 DOWN since Dec 1st, 2021 at 5315.4778
The intermediate-term trend has been DOWN since Jun 17th, 2022 at 5057.6256
The short-term trend has been DOWN since Jun 17th, 2022 at 5057.6256
Smart Scan Analysis for GBPMGA
Based on our trend formula, GBPMGA is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).