Forex Trend Analysis Report
Prepared for you on Tuesday, August 16, 2022.
Chinese Yuan Renminbi/New Taiwan Dollar (FOREX:CNYTWD)
Long-Term Downtrend (-90) - CNYTWD is in a strong downtrend that is likely to continue. While CNYTWD 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 CNYTWD?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYTWD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYTWD
The long-term trend has been DOWN since May 30th, 2022 at 4.3446191
The intermediate-term trend has been DOWN since Aug 16th, 2022 at 4.4132219
The short-term trend has been DOWN since Aug 15th, 2022 at 4.4358906
Smart Scan Analysis for CNYTWD
Based on our trend formula, CNYTWD is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).