Forex Trend Analysis Report
Prepared for you on Friday, November 27, 2020.
Malaysian Ringt/Chinese Yuan Renminbi (FOREX:MYRCNY)
Bull Market Weakness (+75) - MYRCNY is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on MYRCNY as it may be in the beginning stages of a reversal.
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.
MarketClub’s Trade Triangles for MYRCNY
The long-term trend has been DOWN since Feb 11th, 2020 at 1.6751323
The intermediate-term trend has been UP since Nov 24th, 2020 at 1.6160325
The short-term trend has been UP since Nov 24th, 2020 at 1.6097938
Smart Scan Analysis for MYRCNY
Based on our trend formula, MYRCNY is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).