Forex Trend Analysis Report
Prepared for you on Tuesday, June 2, 2020.
Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)
Bull Market Weakness (+75) - MYRCNH is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on MYRCNH as it may be in the beginning stages of a reversal.
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 Feb 24th, 2020 at 1.68750
The intermediate-term trend has been UP since May 1st, 2020 at 1.63375
The short-term trend has been UP since Jun 1st, 2020 at 1.65000
Smart Scan Analysis for MYRCNH
Based on our trend formula, MYRCNH is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).