Forex Trend Analysis Report
Prepared for you on Thursday, June 8, 2023.
Malaysian Ringt/New Zealand Dollar (FOREX:MYRNZD)
Sidelines Mode (-55) - MYRNZD is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid MYRNZD?
MarketClub looks at technical strength and momentum to determine if the timing is right for MYRNZD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MYRNZD
The long-term trend has been DOWN since Mar 1st, 2023 at 0.34928617
The intermediate-term trend has been UP since May 31st, 2023 at 0.36165892
The short-term trend has been DOWN since Jun 1st, 2023 at 0.35788806
Smart Scan Analysis for MYRNZD
Based on our trend formula, MYRNZD is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).