Forex Trend Analysis Report
Prepared for you on Sunday, July 21, 2019.
Special Drawing Right/Chinese Yuan Renminbi (FOREX:SDRCNY)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
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 SDRCNY
The long term trend has been UP since May 13th, 2019 at 9.4355
The intermediate term trend has been DOWN since Jun 30th, 2019 at 9.5387
The short term trend has been DOWN since Jul 19th, 2019 at 9.4999
Smart Scan Analysis for SDRCNY
Based on a pre-defined weighted trend formula for chart analysis, SDRCNY scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).