Forex Trend Analysis Report
Prepared for you on Saturday, December 9, 2023.
Chinese Yuan Renminbi Offshore/Canadian Dollar (FOREX:CNHCAD)
Countertrend Up (+85) - CNHCAD is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid CNHCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHCAD
The long-term trend has been UP since Oct 3rd, 2023 at 0.18726558
The intermediate-term trend has been UP since Oct 2nd, 2023 at 0.18660213
The short-term trend has been UP since Dec 7th, 2023 at 0.18995990
Smart Scan Analysis for CNHCAD
Based on our trend formula, CNHCAD is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).