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Forex Trend Analysis Report
Prepared for you on Wednesday, February 5, 2025.
Malaysian Ringt/Chinese Yuan Renminbi Offshore (FOREX:MYRCNH)
Sidelines Mode (-55) - MYRCNH is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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 DOWN since Jan 21st, 2025 at 1.6126453
The intermediate-term trend has been UP since Jan 22nd, 2025 at 1.6432120
The short-term trend has been DOWN since Jan 30th, 2025 at 1.6523295
Smart Scan Analysis for MYRCNH
Based on our trend formula, MYRCNH is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.6451438 | 1.6454830 | 1.6447162 | 1.6447162 | -0.0004280 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.6451438 | 2025-02-05 00:48:09 |