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Forex Trend Analysis Report
Prepared for you on Monday, December 11, 2023.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Sidelines Mode (-55) - USDCNY is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
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.
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MarketClub’s Trade Triangles for USDCNY
The long-term trend has been DOWN since Nov 20th, 2023 at 7.1100
The intermediate-term trend has been DOWN since Nov 16th, 2023 at 7.1541
The short-term trend has been UP since Dec 5th, 2023 at 7.1363
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.1873 | 7.1879 | 7.1120 | 7.1772 | -0.0101 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.1873 | 2023-12-11 14:02:38 |