Forex Trend Analysis Report
Prepared for you on Sunday, May 31, 2020.
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.
MarketClub’s Trade Triangles for USDCNH
The long-term trend has been UP since Mar 18th, 2020 at 7.084505
The intermediate-term trend has been UP since Mar 18th, 2020 at 7.052705
The short-term trend has been DOWN since May 29th, 2020 at 7.135655
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).