Forex Trend Analysis Report
Prepared for you on Friday, December 8, 2023.
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 Sep 14th, 2023 at 1.5243206
The intermediate-term trend has been DOWN since Nov 27th, 2023 at 1.5132828
The short-term trend has been UP since Dec 6th, 2023 at 1.5232324
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).