Forex Trend Analysis Report
Prepared for you on Tuesday, July 23, 2019.
Chinese Yuan Renminbi/Malaysian Ringt (FOREX:CNYMYR)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for CNYMYR
The long term trend has been DOWN since Jun 4th, 2019 at 0.603330
The intermediate term trend has been DOWN since May 13th, 2019 at 0.606755
The short term trend has been UP since Jul 17th, 2019 at 0.598360
Smart Scan Analysis for CNYMYR
Based on a pre-defined weighted trend formula for chart analysis, CNYMYR scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).