Forex Trend Analysis Report
Prepared for you on Saturday, December 9, 2023.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Weak Downtrend (-65) - USDCNH is showing signs of a strengthening downtrend. Monitor USDCNH as it may be building momentum to the downside.
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 DOWN since Nov 20th, 2023 at 7.156145
The intermediate-term trend has been DOWN since Nov 5th, 2023 at 7.286180
The short-term trend has been UP since Dec 5th, 2023 at 7.155920
Smart Scan Analysis for USDCNH
Based on our trend formula, USDCNH is rated as a -65 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).