Forex Trend Analysis Report
Prepared for you on Friday, August 12, 2022.
Hong Kong Dollar/Malaysian Ringt (FOREX:HKDMYR)
Sidelines Mode (+55) - HKDMYR 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 HKDMYR?
MarketClub looks at technical strength and momentum to determine if the timing is right for HKDMYR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for HKDMYR
The long-term trend has been UP since Apr 18th, 2022 at 0.54177212
The intermediate-term trend has been UP since May 18th, 2022 at 0.56026691
The short-term trend has been DOWN since Aug 8th, 2022 at 0.56724687
Smart Scan Analysis for HKDMYR
Based on our trend formula, HKDMYR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).