Forex Trend Analysis Report
Prepared for you on Thursday, June 20, 2019.
Singapore Dollar/Chinese Yuan Renminbi (FOREX:SGDCNY)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with 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 SGDCNY
The long term trend has been UP since May 9th, 2019 at 5.00255
The intermediate term trend has been UP since May 6th, 2019 at 4.97400
The short term trend has been DOWN since Jun 20th, 2019 at 5.04570
Smart Scan Analysis for SGDCNY
Based on a pre-defined weighted trend formula for chart analysis, SGDCNY scored +85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).