Forex Trend Analysis Report
Prepared for you on Sunday, August 19, 2018.
Chinese Renminbi Yuan/Canadian Dollar (FOREX:CNYCAD)
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 CNYCAD
The long term trend has been DOWN since Jun 29th, 2018 at 0.19880
The intermediate term trend has been DOWN since Jun 27th, 2018 at 0.20129
The short term trend has been DOWN since Aug 13th, 2018 at 0.19043
Smart Scan Analysis for CNYCAD
Based on a pre-defined weighted trend formula for chart analysis, CNYCAD scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).