Forex Trend Analysis Report
Prepared for you on Saturday, April 1, 2023.
Chinese Yuan Renminbi/Special drawing rights (FOREX:CNYXDR)
Sidelines Mode (+55) - CNYXDR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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 UP since Jan 9th, 2023 at 0.10980167
The intermediate-term trend has been DOWN since Feb 3rd, 2023 at 0.10945484
The short-term trend has been UP since Mar 31st, 2023 at 0.10833568
Smart Scan Analysis for CNYXDR
Based on our trend formula, CNYXDR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).