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Forex Trend Analysis Report

Prepared for you on Thursday, May 23, 2024.

Chinese Yuan Renminbi/Norwegian Krone (FOREX:CNYNOK)

Weak Downtrend (-65) - CNYNOK is showing signs of a strengthening downtrend. Monitor CNYNOK as it may be building momentum to the downside.

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

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

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

FOREX_CNYNOK
Open High Low CNYNOK Price Change
1.5077209 1.5089568 1.5041671 1.5050085 -0.0027120
Entry Signal

MarketClub’s Trade Triangles for CNYNOK

long term up The long-term trend has been UP since Apr 1st, 2024 at 1.5286877

intermediate term down The intermediate-term trend has been DOWN since May 6th, 2024 at 1.5305550

short term down The short-term trend has been DOWN since May 10th, 2024 at 1.5260120

Smart Scan Analysis for CNYNOK

Based on our trend formula, CNYNOK is rated as a -70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

-70
Smart Scan Analysis for CNYNOK
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
1.5077209 1.5089568 1.5041671 1.5050085 -0.0027120
Prev. Close Volume Bid Ask Time
1.5077209 2024-05-23 01:22:57
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