Forex Trend Analysis Report
Prepared for you on Tuesday, November 28, 2023.
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.
MarketClub’s Trade Triangles for CADCNY
The long-term trend has been DOWN since Oct 2nd, 2023 at 5.2468001
The intermediate-term trend has been DOWN since Oct 2nd, 2023 at 5.2782411
The short-term trend has been UP since Nov 22nd, 2023 at 5.2077185
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).