Forex Trend Analysis Report
Prepared for you on Friday, January 17, 2020.
Chinese Yuan Renminbi Offshore/New Taiwan Dollar (FOREX:CNHTWD)
Smart Scan Chart Analysis indicates that the upward trend for this market is at a crossroads and has possibly ended. Look for choppy trading conditions in the near term Trading Range Mode.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for CNHTWD
The long term trend has been DOWN since May 10th, 2019 at 4.5462
The intermediate term trend has been UP since Jan 8th, 2020 at 4.3175
The short term trend has been UP since Jan 2nd, 2020 at 4.3120
Smart Scan Analysis for CNHTWD
Based on a pre-defined weighted trend formula for chart analysis, CNHTWD scored +50 on a scale from -100 (strong downtrend) to +100 (strong uptrend).