Forex Trend Analysis Report
Prepared for you on Saturday, February 16, 2019.
Singapore Dollar/Malaysian Ringt (FOREX:SGDMYR)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with 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 SGDMYR
The long term trend has been DOWN since Feb 4th, 2019 at 3.0202
The intermediate term trend has been DOWN since Feb 4th, 2019 at 3.0210
The short term trend has been UP since Feb 14th, 2019 at 3.0080
Smart Scan Analysis for SGDMYR
Based on a pre-defined weighted trend formula for chart analysis, SGDMYR scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).