Forex Trend Analysis Report
Prepared for you on Friday, May 7, 2021.
Malaysian Ringt/Canadian Dollar (FOREX:MYRCAD)
Countertrend Down (-85) - MYRCAD is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid MYRCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for MYRCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MYRCAD
The long-term trend has been DOWN since Jan 14th, 2021 at 0.31282452
The intermediate-term trend has been DOWN since Apr 16th, 2021 at 0.30251793
The short-term trend has been UP since Apr 20th, 2021 at 0.30418237
Smart Scan Analysis for MYRCAD
Based on our trend formula, MYRCAD is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).