Forex Trend Analysis Report
Prepared for you on Tuesday, October 19, 2021.
US Dollar/Malaysian Ringt (FOREX:USDMYR)
Sidelines Mode (+55) - USDMYR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid USDMYR?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDMYR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDMYR
The long-term trend has been UP since Mar 7th, 2021 at 4.0900
The intermediate-term trend has been DOWN since Oct 10th, 2021 at 4.1699
The short-term trend has been UP since Oct 18th, 2021 at 4.1605
Smart Scan Analysis for USDMYR
Based on our trend formula, USDMYR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).