Free Daily Analysis
Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
Singapore Dollar/Chinese Yuan Renminbi (FOREX:SGDCNY)
Sidelines Mode (-55) - SGDCNY 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 SGDCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for SGDCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
|
|||||||||||||||
|
|||||||||||||||
MarketClub’s Trade Triangles for SGDCNY
The long-term trend has been DOWN since Mar 28th, 2024 at 5.2611793
The intermediate-term trend has been UP since May 6th, 2024 at 5.2438685
The short-term trend has been DOWN since May 8th, 2024 at 5.2234606
Smart Scan Analysis for SGDCNY
Based on our trend formula, SGDCNY is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 5.2428704 | 5.2431777 | 5.2233948 | 5.2256114 | -0.0172590 |
| Prev. Close | Volume | Bid | Ask | Time |
| 5.2428704 | 2024-05-09 05:03:27 |