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Forex Trend Analysis Report
Prepared for you on Wednesday, November 20, 2024.
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 Jun 6th, 2024 at 7.0414
The intermediate-term trend has been UP since Oct 14th, 2024 at 7.0955
The short-term trend has been DOWN since Nov 15th, 2024 at 7.1904
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 |
|---|---|---|---|---|
| 7.2419 | 7.2433 | 7.1914 | 7.2421 | +0.0002 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.2419 | 2024-11-20 03:26:32 |