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Forex Trend Analysis Report

Prepared for you on Tuesday, April 16, 2024.

Malaysian Ringt/Chinese Yuan Renminbi (FOREX:MYRCNY)

Long-Term Downtrend (-90) - MYRCNY is in a strong downtrend that is likely to continue. While MYRCNY 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 MYRCNY?

MarketClub looks at technical strength and momentum to determine if the timing is right for MYRCNY.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_MYRCNY
Open High Low MYRCNY Price Change
1.4798062 1.4855259 1.4785901 1.4813063 +0.0015000
Entry Signal

MarketClub’s Trade Triangles for MYRCNY

long term down The long-term trend has been DOWN since Sep 14th, 2023 at 1.5243206

intermediate term down The intermediate-term trend has been DOWN since Mar 28th, 2024 at 1.4950337

short term down The short-term trend has been DOWN since Apr 8th, 2024 at 1.4913005

Smart Scan Analysis for MYRCNY

Based on our trend formula, MYRCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for MYRCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.4798062 1.4855259 1.4785901 1.4813063 +0.0015000
Prev. Close Volume Bid Ask Time
1.4798062 2024-04-16 16:26:43
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