Free Daily Analysis

Forex Trend Analysis Report

Prepared for you on Wednesday, October 20, 2021.

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
1.5298326 1.5355476 1.5276738 1.5349279 +0.0050950
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 Oct 19th, 2021 at 1.5326187

short term down The short-term trend has been DOWN since Oct 18th, 2021 at 1.5454169

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
1.5298326 1.5355476 1.5276738 1.5349279 +0.0050950
Prev. Close Volume Bid Ask Time
1.5298326 2021-10-20 08:23:51
Get a free daily analysis and signals for Malaysian Ringt/Chinese Yuan Renminbi (MYRCNY) - Request Your Free Report.