Forex Trend Analysis Report
Prepared for you on Tuesday, March 21, 2023.
Chinese Yuan Renminbi/Canadian Dollar (FOREX:CNYCAD)
Countertrend Up (+85) - CNYCAD is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid CNYCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYCAD
The long-term trend has been UP since Dec 7th, 2022 at 0.19580351
The intermediate-term trend has been UP since Mar 1st, 2023 at 0.19855516
The short-term trend has been DOWN since Mar 20th, 2023 at 0.19866175
Smart Scan Analysis for CNYCAD
Based on our trend formula, CNYCAD is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).