Forex Trend Analysis Report
Prepared for you on Sunday, December 10, 2023.
Euro/Chinese Yuan Renminbi (FOREX:EURCNY)
Long-Term Downtrend (-90) - EURCNY is in a strong downtrend that is likely to continue. While EURCNY 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 EURCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for EURCNY
The long-term trend has been DOWN since Sep 26th, 2023 at 7.5841
The intermediate-term trend has been DOWN since Dec 5th, 2023 at 7.6562
The short-term trend has been DOWN since Nov 28th, 2023 at 7.7375
Smart Scan Analysis for EURCNY
Based on our trend formula, EURCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).