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Forex Trend Analysis Report
Prepared for you on Tuesday, November 24, 2020.
Canadian Dollar/Chinese Yuan Renminbi (FOREX:CADCNY)
Sidelines Mode (-55) - CADCNY is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid CADCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for CADCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
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MarketClub’s Trade Triangles for CADCNY
The long-term trend has been DOWN since Sep 16th, 2020 at 5.1308789
The intermediate-term trend has been DOWN since Nov 17th, 2020 at 5.0090109
The short-term trend has been UP since Nov 23rd, 2020 at 5.0440520
Smart Scan Analysis for CADCNY
Based on our trend formula, CADCNY is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 5.0443494 | 5.0510806 | 5.0413143 | 5.0473698 | +0.0030200 |
| Prev. Close | Volume | Bid | Ask | Time |
| 5.0443494 | 2020-11-24 04:29:02 |