Forex Trend Analysis Report
Prepared for you on Thursday, October 21, 2021.
Malagasy Ariary/US Dollar (FOREX:MGAUSD)
Bear Market Rally (-75) - MGAUSD is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on MGAUSD as it may be in the beginning of a reversal.
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 May 2nd, 2021 at 0.00026247
The intermediate-term trend has been DOWN since Aug 4th, 2021 at 0.00025605
The short-term trend has been UP since Oct 12th, 2021 at 0.00025224
Smart Scan Analysis for MGAUSD
Based on our trend formula, MGAUSD is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).