Forex Trend Analysis Report
Prepared for you on Tuesday, May 18, 2021.
Malaysian Ringt/Chinese Yuan Renminbi (FOREX:MYRCNY)
Long-Term Downtrend (-90) - MYRCNY is in a strong downtrend that is likely to continue. While MYRCNY is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
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 DOWN since Apr 19th, 2021 at 1.5775359
The short-term trend has been DOWN since May 17th, 2021 at 1.5579810
Smart Scan Analysis for MYRCNY
Based on our trend formula, MYRCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).