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Forex Trend Analysis Report
Prepared for you on Thursday, January 2, 2025.
Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)
Sidelines Mode (-50) - MYRCNH is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until MYRCNH can gain momentum.
Is it time to buy, sell, or avoid MYRCNH?
MarketClub looks at technical strength and momentum to determine if the timing is right for MYRCNH.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for MYRCNH
The long-term trend has been UP since May 21st, 2024 at 1.5355000
The intermediate-term trend has been DOWN since Oct 7th, 2024 at 1.6478525
The short-term trend has been DOWN since Jan 2nd, 2025 at 1.6337015
Smart Scan Analysis for MYRCNH
Based on our trend formula, MYRCNH is rated as a -50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.6338824 | 1.6399838 | 1.6335817 | 1.6391464 | +0.0052640 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.6338824 | 2025-01-02 15:22:57 |