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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
Singapore Dollar/Malaysian Ringt (FOREX:SGDMYR)
Weak Downtrend (-65) - SGDMYR is showing signs of a strengthening downtrend. Monitor SGDMYR as it may be building momentum to the downside.
Is it time to buy, sell, or avoid SGDMYR?
MarketClub looks at technical strength and momentum to determine if the timing is right for SGDMYR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for SGDMYR
The long-term trend has been UP since Mar 1st, 2023 at 3.3318246
The intermediate-term trend has been DOWN since Mar 27th, 2024 at 3.5095683
The short-term trend has been DOWN since May 7th, 2024 at 3.5009938
Smart Scan Analysis for SGDMYR
Based on our trend formula, SGDMYR is rated as a -70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 3.5009682 | 3.5013924 | 3.4980767 | 3.4981283 | -0.0028400 |
| Prev. Close | Volume | Bid | Ask | Time |
| 3.5009682 | 2024-05-08 07:09:26 |