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Forex Trend Analysis Report

Prepared for you on Friday, April 19, 2024.

US Dollar/Malagasy Ariary (FOREX:USDMGA)

Sidelines Mode (-55) - USDMGA 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 USDMGA?

MarketClub looks at technical strength and momentum to determine if the timing is right for USDMGA.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_USDMGA
Open High Low USDMGA Price Change
4404.0 4408.0 4404.0 4406.5 +2.5
Entry Signal

MarketClub’s Trade Triangles for USDMGA

long term down The long-term trend has been DOWN since Mar 29th, 2024 at 2318.5000

intermediate term down The intermediate-term trend has been DOWN since Jan 2nd, 2024 at 4575.0000

short term up The short-term trend has been UP since Apr 7th, 2024 at 4363.1174

Smart Scan Analysis for USDMGA

Based on our trend formula, USDMGA is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-55
Smart Scan Analysis for USDMGA
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
4404.0 4408.0 4404.0 4406.5 +2.5
Prev. Close Volume Bid Ask Time
4404.0 2024-04-19 13:12:48
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