Forex Trend Analysis Report
Prepared for you on Wednesday, August 10, 2022.
Indonesian Rupiah/Chinese Yuan Renminbi (FOREX:IDRCNY)
Sidelines Mode (-55) - IDRCNY 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 IDRCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for IDRCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for IDRCNY
The long-term trend has been DOWN since Jul 27th, 2022 at 0.00043966
The intermediate-term trend has been UP since Jul 28th, 2022 at 0.00045445
The short-term trend has been DOWN since Aug 5th, 2022 at 0.00044999
Smart Scan Analysis for IDRCNY
Based on our trend formula, IDRCNY is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).