Forex Trend Analysis Report
Prepared for you on Tuesday, August 20, 2019.
Singapore Dollar/Malaysian Ringt (FOREX:SGDMYR)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 SGDMYR
The long term trend has been DOWN since Jul 25th, 2019 at 3.01005
The intermediate term trend has been UP since Aug 5th, 2019 at 3.04015
The short term trend has been UP since Aug 20th, 2019 at 3.01920
Smart Scan Analysis for SGDMYR
Based on a pre-defined weighted trend formula for chart analysis, SGDMYR scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).