Forex Trend Analysis Report
Prepared for you on Wednesday, June 29, 2022.
Chinese Yuan Renminbi/Special drawing rights (FOREX:CNYXDR)
Sidelines Mode (+50) - CNYXDR is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until CNYXDR can gain momentum.
Is it time to buy, sell, or avoid CNYXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYXDR
The long-term trend has been DOWN since May 11th, 2022 at 0.11198372
The intermediate-term trend has been UP since Jun 9th, 2022 at 0.11188437
The short-term trend has been UP since Jun 9th, 2022 at 0.11135325
Smart Scan Analysis for CNYXDR
Based on our trend formula, CNYXDR is rated as a +50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).