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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
Chinese Yuan Renminbi Offshore/Hong Kong Dollar (FOREX:CNHHKD)
Sidelines Mode (-55) - CNHHKD 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 CNHHKD?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHHKD.
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 CNHHKD
The long-term trend has been DOWN since Mar 27th, 2024 at 1.080880
The intermediate-term trend has been UP since May 2nd, 2024 at 1.082095
The short-term trend has been DOWN since May 7th, 2024 at 1.081935
Smart Scan Analysis for CNHHKD
Based on our trend formula, CNHHKD is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.08111 | 1.08158 | 1.08079 | 1.08097 | -0.00014 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.08111 | 2024-05-08 07:29:58 |