Forex Trend Analysis Report
Prepared for you on Monday, October 25, 2021.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Long-Term Downtrend (-90) - USDCNY is in a strong downtrend that is likely to continue. While USDCNY is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid USDCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for USDCNY
The long-term trend has been DOWN since May 9th, 2021 at 6.4278
The intermediate-term trend has been DOWN since Oct 10th, 2021 at 6.4430
The short-term trend has been DOWN since Oct 13th, 2021 at 6.4348
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).