Forex Trend Analysis Report
Prepared for you on Monday, November 23, 2020.
Chinese Yuan Renminbi Offshore/Canadian Dollar (FOREX:CNHCAD)
Countertrend Up (+85) - CNHCAD is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid CNHCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHCAD
The long-term trend has been UP since Sep 1st, 2020 at 0.19115343
The intermediate-term trend has been UP since Nov 17th, 2020 at 0.19969798
The short-term trend has been DOWN since Nov 19th, 2020 at 0.19860705
Smart Scan Analysis for CNHCAD
Based on our trend formula, CNHCAD is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).