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Forex Trend Analysis Report
Prepared for you on Wednesday, November 20, 2024.
Chinese Yuan Renminbi/Norwegian Krone (FOREX:CNYNOK)
Long-Term Downtrend (-90) - CNYNOK is in a strong downtrend that is likely to continue. While CNYNOK is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
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.
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MarketClub’s Trade Triangles for CNYNOK
The long-term trend has been DOWN since Jun 7th, 2024 at 1.4587688
The intermediate-term trend has been DOWN since Nov 19th, 2024 at 1.5154742
The short-term trend has been DOWN since Nov 18th, 2024 at 1.5280234
Smart Scan Analysis for CNYNOK
Based on our trend formula, CNYNOK is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.5172331 | 1.5203912 | 1.5163583 | 1.5203912 | +0.0031580 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.5172331 | 2024-11-20 03:41:10 |