Forex Trend Analysis Report
Prepared for you on Tuesday, December 5, 2023.
Hong Kong Dollar/Chinese Yuan Renminbi (FOREX:HKDCNY)
Countertrend Down (-85) - HKDCNY is showing short-term strength. However, look for the longer-term bearish trend to resume. As always, continue to monitor the trend score and set stops.
Is it time to buy, sell, or avoid HKDCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for HKDCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for HKDCNY
The long-term trend has been DOWN since Nov 20th, 2023 at 0.9086166
The intermediate-term trend has been DOWN since Nov 20th, 2023 at 0.9105135
The short-term trend has been UP since Nov 27th, 2023 at 0.9119209
Smart Scan Analysis for HKDCNY
Based on our trend formula, HKDCNY is rated as a -85 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).