Forex Trend Analysis Report
Prepared for you on Monday, November 23, 2020.
Chinese Yuan Renminbi Offshore/New Zealand Dollar (FOREX:CNHNZD)
Sidelines Mode (+55) - CNHNZD 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 CNHNZD?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHNZD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHNZD
The long-term trend has been UP since Sep 3rd, 2020 at 0.21716929
The intermediate-term trend has been DOWN since Oct 27th, 2020 at 0.22236914
The short-term trend has been UP since Nov 18th, 2020 at 0.22187632
Smart Scan Analysis for CNHNZD
Based on our trend formula, CNHNZD is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).