Forex Trend Analysis Report
Prepared for you on Monday, October 2, 2023.
New Taiwan Dollar/Malaysian Ringt (FOREX:TWDMYR)
Long-Term Downtrend (-90) - TWDMYR is in a strong downtrend that is likely to continue. While TWDMYR 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 TWDMYR?
MarketClub looks at technical strength and momentum to determine if the timing is right for TWDMYR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for TWDMYR
The long-term trend has been DOWN since Jul 31st, 2023 at 0.14373338
The intermediate-term trend has been DOWN since Sep 25th, 2023 at 0.14549042
The short-term trend has been DOWN since Oct 1st, 2023 at 0.14576899
Smart Scan Analysis for TWDMYR
Based on our trend formula, TWDMYR is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).