Forex Trend Analysis Report
Prepared for you on Thursday, December 3, 2020.
US Dollar/Malaysian Ringt (FOREX:USDMYR)
Long-Term Downtrend (-90) - USDMYR is in a strong downtrend that is likely to continue. While USDMYR 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 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 DOWN since Aug 2nd, 2020 at 4.2378
The intermediate-term trend has been DOWN since Nov 5th, 2020 at 4.1375
The short-term trend has been DOWN since Nov 15th, 2020 at 4.1211
Smart Scan Analysis for USDMYR
Based on our trend formula, USDMYR is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).