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Forex Trend Analysis Report
Prepared for you on Friday, April 26, 2024.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Bull Market Weakness (+75) - USDCNY is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on USDCNY as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid USDCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCNY.
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 USDCNY
The long-term trend has been UP since Mar 27th, 2024 at 7.2073
The intermediate-term trend has been UP since Mar 21st, 2024 at 7.2006
The short-term trend has been DOWN since Apr 25th, 2024 at 7.0951
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.2464 | 7.2471 | 7.0930 | 7.2464 | 0.0000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.2464 | 2024-04-26 09:44:05 |