Forex Trend Analysis Report
Prepared for you on Thursday, May 6, 2021.
US Dollar/Myanmar Kyat (FOREX:USDMMK)
Countertrend Up (+85) - USDMMK is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid USDMMK?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDMMK.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDMMK
The long-term trend has been UP since Dec 2nd, 2020 at 1319.2093
The intermediate-term trend has been UP since Apr 7th, 2021 at 1409.9582
The short-term trend has been UP since Apr 7th, 2021 at 1409.5678
Smart Scan Analysis for USDMMK
Based on our trend formula, USDMMK is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).