Forex Trend Analysis Report
Prepared for you on Thursday, October 28, 2021.
Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)
Bear Market Rally (-75) - MYRCNH is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on MYRCNH as it may be in the beginning 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 1.6875
The intermediate-term trend has been DOWN since Sep 23rd, 2021 at 1.5478
The short-term trend has been UP since Oct 28th, 2021 at 1.5410
Smart Scan Analysis for MYRCNH
Based on our trend formula, MYRCNH is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).