Forex Trend Analysis Report
Prepared for you on Saturday, April 17, 2021.
Chinese Yuan Renminbi/Special drawing rights (FOREX:CNYXDR)
Sidelines Mode (-55) - CNYXDR is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid CNYXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CNYXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CNYXDR
The long-term trend has been UP since Sep 18th, 2020 at 0.10326964
The intermediate-term trend has been DOWN since Feb 14th, 2021 at 0.10726194
The short-term trend has been UP since Apr 5th, 2021 at 0.10727039
Smart Scan Analysis for CNYXDR
Based on our trend formula, CNYXDR is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).