Forex Trend Analysis Report
Prepared for you on Thursday, May 6, 2021.
Chinese Yuan Renminbi Offshore/US Dollar (FOREX:CNHUSD)
Bull Market Weakness (+75) - CNHUSD is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on CNHUSD as it may be in the beginning stages of a reversal.
Is it time to buy, sell, or avoid CNHUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNHUSD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNHUSD
The long-term trend has been DOWN since Mar 29th, 2021 at 0.15223214
The intermediate-term trend has been UP since Apr 19th, 2021 at 0.15335459
The short-term trend has been UP since Apr 12th, 2021 at 0.15266605
Smart Scan Analysis for CNHUSD
Based on our trend formula, CNHUSD is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).