Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
Malaysian Ringt/New Zealand Dollar (FOREX:MYRNZD)
Long-Term Downtrend (-90) - MYRNZD is in a strong downtrend that is likely to continue. While MYRNZD 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 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 Jun 1st, 2020 at 0.36800592
The intermediate-term trend has been DOWN since Oct 17th, 2021 at 0.33946708
The short-term trend has been DOWN since Oct 14th, 2021 at 0.34435611
Smart Scan Analysis for MYRNZD
Based on our trend formula, MYRNZD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).