Forex Trend Analysis Report
Prepared for you on Friday, August 12, 2022.
Chinese Yuan Renminbi/Mexican Peso (FOREX:CNYMXN)
Long-Term Downtrend (-90) - CNYMXN is in a strong downtrend that is likely to continue. While CNYMXN is showing intraday strength, it remains in the confines of a bearish trend. Traders should use caution and set stops.
Is it time to buy, sell, or avoid CNYMXN?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYMXN.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYMXN
The long-term trend has been DOWN since Mar 21st, 2022 at 3.1915551
The intermediate-term trend has been DOWN since Jul 27th, 2022 at 3.0140541
The short-term trend has been DOWN since Aug 8th, 2022 at 3.0062818
Smart Scan Analysis for CNYMXN
Based on our trend formula, CNYMXN is rated as a -90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).