Forex Trend Analysis Report
Prepared for you on Saturday, April 20, 2019.
Singapore Dollar/Chinese Yuan Renminbi (FOREX:SGDCNY)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 SGDCNY
The long term trend has been DOWN since Feb 10th, 2019 at 4.9638
The intermediate term trend has been DOWN since Apr 17th, 2019 at 4.9429
The short term trend has been DOWN since Apr 17th, 2019 at 4.9462
Smart Scan Analysis for SGDCNY
Based on a pre-defined weighted trend formula for chart analysis, SGDCNY scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).