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Forex Trend Analysis Report
Prepared for you on Saturday, May 4, 2024.
Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)
Strong Downtrend (-100) - MYRCNH is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, MYRCNH continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid MYRCNH?
MarketClub looks at technical strength and momentum to determine if the timing is right for MYRCNH.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for MYRCNH
The long-term trend has been DOWN since Oct 3rd, 2023 at 1.5525
The intermediate-term trend has been DOWN since Apr 8th, 2024 at 1.5340
The short-term trend has been DOWN since Apr 8th, 2024 at 1.5325
Smart Scan Analysis for MYRCNH
Based on our trend formula, MYRCNH is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.518 | 1.518 | 1.518 | 1.518 | 0.000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.520 | 2024-04-22 14:53:40 |