Free Daily Analysis
Forex Trend Analysis Report
Prepared for you on Saturday, December 7, 2024.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Bull Market Weakness (+75) - USDCNH is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on USDCNH as it may be in the beginning stages of a reversal.
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.
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MarketClub’s Trade Triangles for USDCNH
The long-term trend has been UP since Nov 13th, 2024 at 7.258235
The intermediate-term trend has been UP since Oct 14th, 2024 at 7.118455
The short-term trend has been DOWN since Dec 6th, 2024 at 7.257065
Smart Scan Analysis for USDCNH
Based on our trend formula, USDCNH is rated as a +75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.2827 | 7.2827 | 7.2827 | 7.2827 | 0.0000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.2827 | 2024-12-07 04:22:59 |