Forex Trend Analysis Report
Prepared for you on Monday, August 8, 2022.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Long-Term Uptrend (+90) - USDCNH is in a strong uptrend that is likely to continue. While USDCNH is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
Is it time to buy, sell, or avoid USDCNH?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCNH.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDCNH
The long-term trend has been UP since Mar 14th, 2022 at 6.397810
The intermediate-term trend has been UP since Jun 13th, 2022 at 6.785330
The short-term trend has been UP since Aug 7th, 2022 at 6.769185
Smart Scan Analysis for USDCNH
Based on our trend formula, USDCNH is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).