Forex Trend Analysis Report
Prepared for you on Saturday, February 27, 2021.
Singapore Dollar/Malaysian Ringt (FOREX:SGDMYR)
Sidelines Mode (-55) - SGDMYR 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 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.
MarketClub’s Trade Triangles for SGDMYR
The long-term trend has been DOWN since Oct 29th, 2020 at 3.0427007
The intermediate-term trend has been UP since Feb 8th, 2021 at 3.0541671
The short-term trend has been DOWN since Feb 25th, 2021 at 3.0529028
Smart Scan Analysis for SGDMYR
Based on our trend formula, SGDMYR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).