Forex Trend Analysis Report
Prepared for you on Tuesday, December 5, 2023.
Chinese Yuan Renminbi/Norwegian Krone (FOREX:CNYNOK)
Bull Market Weakness (+75) - CNYNOK is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on CNYNOK as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid CNYNOK?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYNOK.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYNOK
The long-term trend has been UP since Oct 2nd, 2023 at 1.5113428
The intermediate-term trend has been DOWN since Nov 14th, 2023 at 1.5334275
The short-term trend has been UP since Nov 30th, 2023 at 1.5123629
Smart Scan Analysis for CNYNOK
Based on our trend formula, CNYNOK is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).