Forex Trend Analysis Report
Prepared for you on Monday, March 1, 2021.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Bear Market Rally (-75) - USDCNY is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on USDCNY as it may be in the beginning of a reversal.
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 Jul 6th, 2020 at 7.0296
The intermediate-term trend has been DOWN since Jun 7th, 2020 at 7.0820
The short-term trend has been DOWN since Feb 24th, 2021 at 6.4557
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a -80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).