Forex Trend Analysis Report
Prepared for you on Monday, November 18, 2019.
Special Drawing Right/Chinese Yuan Renminbi (FOREX:SDRCNY)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 9.435500
The intermediate term trend has been DOWN since Nov 4th, 2019 at 9.673897
The short term trend has been DOWN since Oct 30th, 2019 at 9.707519
Smart Scan Analysis for SDRCNY
Based on a pre-defined weighted trend formula for chart analysis, SDRCNY scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).