Forex Trend Analysis Report
Prepared for you on Saturday, January 25, 2020.
Malaysian Ringt/Chinese Yuan Renminbi (FOREX:MYRCNY)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
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 MYRCNY
The long term trend has been DOWN since Dec 12th, 2019 at 1.6767495
The intermediate term trend has been DOWN since Jan 17th, 2020 at 1.6854583
The short term trend has been UP since Jan 20th, 2020 at 1.6933001
Smart Scan Analysis for MYRCNY
Based on a pre-defined weighted trend formula for chart analysis, MYRCNY scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend).