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Forex Trend Analysis Report
Prepared for you on Wednesday, November 20, 2024.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Countertrend Up (+85) - USDCNH is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score 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.
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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 Nov 18th, 2024 at 7.229300
Smart Scan Analysis for USDCNH
Based on our trend formula, USDCNH is rated as a +85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.243035 | 7.245170 | 7.239705 | 7.243800 | +0.000765 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.243035 | 2024-11-20 03:47:58 |