Forex Trend Analysis Report
Prepared for you on Tuesday, October 22, 2019.
Chinese Yuan Renminbi Offshore/Indian Rupee (FOREX:CNHINR)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for CNHINR
The long term trend has been DOWN since May 8th, 2019 at 10.2550
The intermediate term trend has been DOWN since Oct 21st, 2019 at 10.0500
The short term trend has been DOWN since Sep 17th, 2019 at 10.0885
Smart Scan Analysis for CNHINR
Based on a pre-defined weighted trend formula for chart analysis, CNHINR scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).