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Forex Trend Analysis Report

Prepared for you on Monday, September 16, 2024.

Chinese Yuan Renminbi/Norwegian Krone (FOREX:CNYNOK)

Bear Market Rally (-75) - CNYNOK is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on CNYNOK as it may be in the beginning 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.

FOREX_CNYNOK
Open High Low CNYNOK Price Change
1.4965645 1.4978206 1.4915000 1.4937337 -0.0028310
Entry Signal

MarketClub’s Trade Triangles for CNYNOK

long term down The long-term trend has been DOWN since Jun 7th, 2024 at 1.4587688

intermediate term up The intermediate-term trend has been UP since Sep 9th, 2024 at 1.5146998

short term down The short-term trend has been DOWN since Sep 16th, 2024 at 1.4961560

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).

-75
Smart Scan Analysis for CNYNOK
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.4965645 1.4978206 1.4915000 1.4937337 -0.0028310
Prev. Close Volume Bid Ask Time
1.4965645 2024-09-16 18:40:29
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