Forex Trend Analysis Report
Prepared for you on Friday, August 19, 2022.
Special drawing rights/Chinese Yuan Renminbi (FOREX:XDRCNY)
Bull Market Weakness (+75) - XDRCNY is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on XDRCNY as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid XDRCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for XDRCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for XDRCNY
The long-term trend has been UP since May 11th, 2022 at 8.929870
The intermediate-term trend has been UP since Aug 10th, 2022 at 8.910339
The short-term trend has been UP since Jul 27th, 2022 at 8.852128
Smart Scan Analysis for XDRCNY
Based on our trend formula, XDRCNY is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).