Forex Trend Analysis Report
Prepared for you on Tuesday, January 22, 2019.
US Dollar/Chinese Renminbi Yuan (FOREX:USDCNY)
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 USDCNY
The long term trend has been DOWN since Jan 9th, 2019 at 6.83185
The intermediate term trend has been DOWN since Dec 3rd, 2018 at 6.92360
The short term trend has been UP since Jan 15th, 2019 at 6.76980
Smart Scan Analysis for USDCNY
Based on a pre-defined weighted trend formula for chart analysis, USDCNY scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).