Forex Trend Analysis Report
Prepared for you on Friday, October 22, 2021.
US Dollar/Malagasy Ariary (FOREX:USDMGA)
Countertrend Up (+85) - USDMGA is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid USDMGA?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDMGA.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDMGA
The long-term trend has been UP since Jun 14th, 2021 at 3822.1026
The intermediate-term trend has been UP since Oct 14th, 2021 at 3977.0788
The short-term trend has been DOWN since Oct 21st, 2021 at 3952.5000
Smart Scan Analysis for USDMGA
Based on our trend formula, USDMGA is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).