Forex Trend Analysis Report
Prepared for you on Thursday, November 30, 2023.
US Dollar/Malaysian Ringt (FOREX:USDMYR)
Crossroads (-60) - USDMYR is struggling to move into a solid trend. Beware of choppy markets 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 Jun 20th, 2023 at 4.6410
The intermediate-term trend has been DOWN since Nov 5th, 2023 at 4.7125
The short-term trend has been DOWN since Nov 27th, 2023 at 4.6765
Smart Scan Analysis for USDMYR
Based on our trend formula, USDMYR is rated as a -60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).