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Forex Trend Analysis Report

Prepared for you on Friday, June 21, 2024.

Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)

Sidelines Mode (-55) - MYRCNH is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.

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.

FOREX_MYRCNH
Open High Low MYRCNH Price Change
1.5454416 1.5482874 1.5452348 1.5467806 +0.0013390
Entry Signal

MarketClub’s Trade Triangles for MYRCNH

long term up The long-term trend has been UP since May 21st, 2024 at 1.5355000

intermediate term down The intermediate-term trend has been DOWN since Jun 9th, 2024 at 1.5417500

short term up The short-term trend has been UP since Jun 18th, 2024 at 1.5436854

Smart Scan Analysis for MYRCNH

Based on our trend formula, MYRCNH is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for MYRCNH
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.5454416 1.5482874 1.5452348 1.5467806 +0.0013390
Prev. Close Volume Bid Ask Time
1.5454416 2024-06-21 15:40:50
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