Forex Trend Analysis Report
Prepared for you on Tuesday, October 19, 2021.
Malaysian Ringt/Chinese Yuan Renminbi (FOREX:MYRCNY)
Sidelines Mode (+55) - MYRCNY 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 MYRCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for MYRCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MYRCNY
The long-term trend has been DOWN since Feb 11th, 2020 at 1.6751323
The intermediate-term trend has been UP since Oct 12th, 2021 at 1.5485938
The short-term trend has been DOWN since Oct 18th, 2021 at 1.5454169
Smart Scan Analysis for MYRCNY
Based on our trend formula, MYRCNY is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).