Forex Trend Analysis Report
Prepared for you on Saturday, October 23, 2021.
Chinese Yuan Renminbi Offshore/Canadian Dollar (FOREX:CNHCAD)
Sidelines Mode (+55) - CNHCAD 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 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 Jul 15th, 2021 at 0.19479645
The intermediate-term trend has been DOWN since Oct 4th, 2021 at 0.19512467
The short-term trend has been UP since Oct 19th, 2021 at 0.19287602
Smart Scan Analysis for CNHCAD
Based on our trend formula, CNHCAD is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).