Forex Trend Analysis Report
Prepared for you on Wednesday, October 16, 2019.
Chinese Yuan Renminbi/Special Drawing Right (FOREX:CNYSDR)
Smart Scan Chart Analysis indicates that the upward trend for this market is at a crossroads and has possibly ended. Look for choppy trading conditions in the near term Trading Range Mode.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for CNYSDR
The long term trend has been DOWN since May 13th, 2019 at 0.10598
The intermediate term trend has been UP since Sep 15th, 2019 at 0.10313
The short term trend has been UP since Oct 13th, 2019 at 0.10280
Smart Scan Analysis for CNYSDR
Based on a pre-defined weighted trend formula for chart analysis, CNYSDR scored +50 on a scale from -100 (strong downtrend) to +100 (strong uptrend).