Forex Trend Analysis Report
Prepared for you on Monday, March 20, 2023.
Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)
Long-Term Downtrend (-90) - MYRCNH is in a strong downtrend that is likely to continue. While MYRCNH 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 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.
MarketClub’s Trade Triangles for MYRCNH
The long-term trend has been DOWN since Mar 1st, 2023 at 1.5489
The intermediate-term trend has been DOWN since Feb 15th, 2023 at 1.5779
The short-term trend has been DOWN since Mar 14th, 2023 at 1.5439
Smart Scan Analysis for MYRCNH
Based on our trend formula, MYRCNH is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).