Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
Malagasy Ariary/US Dollar (FOREX:MGAUSD)
Strong Downtrend (-100) - MGAUSD is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, MGAUSD continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid MGAUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for MGAUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MGAUSD
The long-term trend has been DOWN since Jan 26th, 2022 at 0.00024997
The intermediate-term trend has been DOWN since Nov 23rd, 2023 at 0.00022059
The short-term trend has been DOWN since Nov 16th, 2023 at 0.00022100
Smart Scan Analysis for MGAUSD
Based on our trend formula, MGAUSD is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).