Forex Trend Analysis Report
Prepared for you on Wednesday, August 5, 2020.
Chinese Yuan Renminbi Offshore/Indian Rupee (FOREX:CNHINR)
Sidelines Mode (-55) - CNHINR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid CNHINR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHINR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHINR
The long-term trend has been UP since Nov 8th, 2019 at 10.1532
The intermediate-term trend has been DOWN since Jul 2nd, 2020 at 10.6700
The short-term trend has been UP since Jul 27th, 2020 at 10.6815
Smart Scan Analysis for CNHINR
Based on our trend formula, CNHINR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).