Forex Trend Analysis Report
Prepared for you on Sunday, December 16, 2018.
Canadian Dollar/Chinese Renminbi Yuan (FOREX:CADCNY)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with tight 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 Dec 4th, 2018 at 5.1692
The intermediate term trend has been DOWN since Oct 21st, 2018 at 5.2748
The short term trend has been UP since Dec 10th, 2018 at 5.1829
Smart Scan Analysis for CADCNY
Based on a pre-defined weighted trend formula for chart analysis, CADCNY scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).