Forex Trend Analysis Report
Prepared for you on Wednesday, November 22, 2017.
Canadian Dollar/Chinese Renminbi Yuan (FOREX:CADCNY)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with money management stops.
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 5.2090
The intermediate term trend has been DOWN since Oct 2nd, 2017 at 5.3085
The short term trend has been UP since Nov 20th, 2017 at 5.2095
Smart Scan Analysis for CADCNY
Based on a pre-defined weighted trend formula for chart analysis, CADCNY scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).