Forex Trend Analysis Report
Prepared for you on Monday, January 18, 2021.
Chinese Yuan Renminbi/Special drawing rights (FOREX:CNYXDR)
Bull Market Weakness (+75) - CNYXDR is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on CNYXDR as it may be in the beginning stages of a reversal.
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 UP since Dec 31st, 2020 at 0.10678030
The short-term trend has been UP since Dec 31st, 2020 at 0.10641079
Smart Scan Analysis for CNYXDR
Based on our trend formula, CNYXDR is rated as a +70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).