Forex Trend Analysis Report
Prepared for you on Monday, October 2, 2023.
Canadian Dollar/Chinese Yuan Renminbi (FOREX:CADCNY)
Bear Market Rally (-75) - CADCNY is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on CADCNY as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid CADCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for CADCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CADCNY
The long-term trend has been DOWN since Oct 2nd, 2023 at 5.2468001
The intermediate-term trend has been DOWN since Oct 2nd, 2023 at 5.2782411
The short-term trend has been UP since Sep 29th, 2023 at 5.3351812
Smart Scan Analysis for CADCNY
Based on our trend formula, CADCNY is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).