Forex Trend Analysis Report
Prepared for you on Tuesday, November 29, 2022.
Chinese Yuan Renminbi Offshore/Malaysian Ringt (FOREX:CNHMYR)
Strong Downtrend (-100) - CNHMYR is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, CNHMYR continues to fall. Traders should use caution and set stops.
Is it time to buy, sell, or avoid CNHMYR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHMYR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHMYR
The long-term trend has been DOWN since Sep 4th, 2022 at 0.64631099
The intermediate-term trend has been DOWN since Nov 15th, 2022 at 0.64244895
The short-term trend has been DOWN since Nov 15th, 2022 at 0.64769713
Smart Scan Analysis for CNHMYR
Based on our trend formula, CNHMYR is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).