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Forex Trend Analysis Report

Prepared for you on Wednesday, May 29, 2024.

Chinese Yuan Renminbi/Hong Kong Dollar (FOREX:CNYHKD)

Bear Market Rally (-75) - CNYHKD is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on CNYHKD as it may be in the beginning of a reversal.

Is it time to buy, sell, or avoid CNYHKD?

MarketClub looks at technical strength and momentum to determine if the timing is right for CNYHKD.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_CNYHKD
Open High Low CNYHKD Price Change
1.1007054 1.1021654 1.0990349 1.0997428 -0.0009630
Entry Signal

MarketClub’s Trade Triangles for CNYHKD

long term down The long-term trend has been DOWN since Apr 15th, 2024 at 1.0918679

intermediate term up The intermediate-term trend has been UP since May 1st, 2024 at 1.1073195

short term down The short-term trend has been DOWN since May 29th, 2024 at 1.0995025

Smart Scan Analysis for CNYHKD

Based on our trend formula, CNYHKD is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-75
Smart Scan Analysis for CNYHKD
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.1007054 1.1021654 1.0990349 1.0997428 -0.0009630
Prev. Close Volume Bid Ask Time
1.1007054 2024-05-29 10:18:42
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