Forex Trend Analysis Report
Prepared for you on Wednesday, November 29, 2023.
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 Oct 24th, 2023 at 2104.6497
The intermediate-term trend has been UP since Nov 23rd, 2023 at 2101.2680
The short-term trend has been UP since Nov 23rd, 2023 at 2101.2498
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).