Forex Trend Analysis Report
Prepared for you on Wednesday, February 21, 2018.
Canadian Dollar/Chinese Renminbi Yuan (FOREX:CADCNY)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for CADCNY
The long term trend has been DOWN since Oct 25th, 2017 at 5.20900
The intermediate term trend has been DOWN since Jan 19th, 2018 at 5.13770
The short term trend has been DOWN since Feb 19th, 2018 at 5.05035
Smart Scan Analysis for CADCNY
Based on a pre-defined weighted trend formula for chart analysis, CADCNY scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).