Forex Trend Analysis Report
Prepared for you on Sunday, August 25, 2019.
Malaysian Ringt/Chinese Yuan Renminbi (FOREX:MYRCNY)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend with tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for MYRCNY
The long term trend has been UP since Jun 4th, 2019 at 1.66245
The intermediate term trend has been UP since Aug 1st, 2019 at 1.68085
The short term trend has been DOWN since Aug 25th, 2019 at 1.68600
Smart Scan Analysis for MYRCNY
Based on a pre-defined weighted trend formula for chart analysis, MYRCNY scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).