Forex Trend Analysis Report
Prepared for you on Wednesday, March 3, 2021.
Malaysian Ringt/Chinese Yuan Renminbi (FOREX:MYRCNY)
Countertrend Down (-85) - MYRCNY is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score 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.
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 DOWN since Feb 25th, 2021 at 1.5865418
The short-term trend has been UP since Feb 25th, 2021 at 1.6037747
Smart Scan Analysis for MYRCNY
Based on our trend formula, MYRCNY is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).