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Forex Trend Analysis Report

Prepared for you on Friday, July 19, 2024.

Malagasy Ariary/US Dollar (FOREX:MGAUSD)

Long-Term Downtrend (-90) - MGAUSD is in a strong downtrend that is likely to continue. While MGAUSD is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.

Is it time to buy, sell, or avoid MGAUSD?

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

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

FOREX_MGAUSD
Open High Low MGAUSD Price Change
0.00022239 0.00022239 0.00022238 0.00022238 0.00000000
Entry Signal

MarketClub’s Trade Triangles for MGAUSD

long term down The long-term trend has been DOWN since Jun 21st, 2024 at 0.00022199

intermediate term down The intermediate-term trend has been DOWN since Apr 22nd, 2024 at 0.00022677

short term down The short-term trend has been DOWN since Jul 7th, 2024 at 0.00022339

Smart Scan Analysis for MGAUSD

Based on our trend formula, MGAUSD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-90
Smart Scan Analysis for MGAUSD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
0.00022239 0.00022239 0.00022238 0.00022238 0.00000000
Prev. Close Volume Bid Ask Time
0.00022209 2024-07-17 23:17:59
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