Forex Trend Analysis Report
Prepared for you on Tuesday, September 17, 2019.
New Zealand Dollar/Malaysian Ringt (FOREX:NZDMYR)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 NZDMYR
The long term trend has been DOWN since May 22nd, 2019 at 2.71875
The intermediate term trend has been DOWN since Jul 29th, 2019 at 2.72875
The short term trend has been DOWN since Sep 12th, 2019 at 2.67120
Smart Scan Analysis for NZDMYR
Based on a pre-defined weighted trend formula for chart analysis, NZDMYR scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).