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Forex Trend Analysis Report

Prepared for you on Thursday, May 9, 2024.

Canadian Dollar/Chinese Yuan Renminbi (FOREX:CADCNY)

Weak Downtrend (-65) - CADCNY is showing signs of a strengthening downtrend. Monitor CADCNY as it may be building momentum to the downside.

Is it time to buy, sell, or avoid CADCNY?

MarketClub looks at technical strength and momentum to determine if the timing is right for CADCNY.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_CADCNY
Open High Low CADCNY Price Change
5.1768463 5.1778479 5.1581385 5.1772788 +0.0004320
Entry Signal

MarketClub’s Trade Triangles for CADCNY

long term down The long-term trend has been DOWN since Apr 5th, 2024 at 5.2139851

intermediate term down The intermediate-term trend has been DOWN since Jan 15th, 2024 at 5.2879686

short term down The short-term trend has been DOWN since May 7th, 2024 at 5.1560611

Smart Scan Analysis for CADCNY

Based on our trend formula, CADCNY is rated as a -70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-70
Smart Scan Analysis for CADCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
5.1768463 5.1778479 5.1581385 5.1772788 +0.0004320
Prev. Close Volume Bid Ask Time
5.1768463 2024-05-09 12:26:24
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