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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.

FOREX_MYRCNY
Open High Low MYRCNY Price Change
1.6002376 1.6015892 1.5950188 1.5965742 -0.0036630
Entry Signal

MarketClub’s Trade Triangles for MYRCNY

long term down The long-term trend has been DOWN since Feb 11th, 2020 at 1.6751323

intermediate term down The intermediate-term trend has been DOWN since Feb 25th, 2021 at 1.5865418

short term up 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).

-85
Smart Scan Analysis for MYRCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.6002376 1.6015892 1.5950188 1.5965742 -0.0036630
Prev. Close Volume Bid Ask Time
1.6002376 2021-03-03 16:56:34
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