Forex Trend Analysis Report
Prepared for you on Tuesday, March 21, 2023.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Strong Downtrend (-100) - USDCNH is in a strong downtrend that is likely to continue. With short-term, intermediate, and long-term bearish momentum, USDCNH continues to fall. Traders should use caution and set stops.
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 Jan 2nd, 2023 at 6.90534
The intermediate-term trend has been DOWN since Mar 13th, 2023 at 6.85459
The short-term trend has been DOWN since Mar 10th, 2023 at 6.92757
Smart Scan Analysis for USDCNH
Based on our trend formula, USDCNH is rated as a -100 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).