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Forex Trend Analysis Report
Prepared for you on Thursday, May 9, 2024.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Bear Market Rally (-75) - USDCNH is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on USDCNH as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid USDCNH?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCNH.
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 USDCNH
The long-term trend has been DOWN since May 3rd, 2024 at 7.17187
The intermediate-term trend has been DOWN since Apr 29th, 2024 at 7.23554
The short-term trend has been UP since May 7th, 2024 at 7.22323
Smart Scan Analysis for USDCNH
Based on our trend formula, USDCNH is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.228180 | 7.230515 | 7.225235 | 7.229970 | +0.001790 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.228180 | 2024-05-09 02:24:08 |