Forex Trend Analysis Report
Prepared for you on Sunday, October 17, 2021.
Chinese Yuan Renminbi/Special drawing rights (FOREX:CNYXDR)
Countertrend Up (+85) - CNYXDR is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
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 Sep 18th, 2020 at 0.10326964
The intermediate-term trend has been UP since Aug 23rd, 2021 at 0.10880516
The short-term trend has been UP since Sep 22nd, 2021 at 0.10906225
Smart Scan Analysis for CNYXDR
Based on our trend formula, CNYXDR is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).