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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
Chinese Yuan Renminbi/Norwegian Krone (FOREX:CNYNOK)
Sidelines Mode (-55) - CNYNOK 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 CNYNOK?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYNOK.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for CNYNOK
The long-term trend has been UP since Apr 1st, 2024 at 1.5286877
The intermediate-term trend has been DOWN since May 6th, 2024 at 1.5305550
The short-term trend has been UP since May 8th, 2024 at 1.5444124
Smart Scan Analysis for CNYNOK
Based on our trend formula, CNYNOK is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.5342363 | 1.5416639 | 1.5333072 | 1.5333072 | -0.0009290 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.5342363 | 2024-05-09 13:28:39 |