Forex Trend Analysis Report
Prepared for you on Monday, February 17, 2020.
Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for MYRCNH
The long term trend has been UP since Dec 24th, 2019 at 1.70850
The intermediate term trend has been DOWN since Feb 7th, 2020 at 1.69450
The short term trend has been DOWN since Feb 5th, 2020 at 1.70975
Smart Scan Analysis for MYRCNH
Based on a pre-defined weighted trend formula for chart analysis, MYRCNH scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).