Forex Trend Analysis Report
Prepared for you on Tuesday, October 3, 2023.
Chinese Yuan Renminbi Offshore/Canadian Dollar (FOREX:CNHCAD)
Crossroads (+60) - CNHCAD is struggling to move into a solid trend. Beware of choppy markets 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 DOWN since Apr 13th, 2023 at 0.19425042
The intermediate-term trend has been UP since Oct 2nd, 2023 at 0.18660213
The short-term trend has been UP since Oct 2nd, 2023 at 0.18617440
Smart Scan Analysis for CNHCAD
Based on our trend formula, CNHCAD is rated as a +60 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).