Forex Trend Analysis Report
Prepared for you on Saturday, October 16, 2021.
Singapore Dollar/Chinese Yuan Renminbi (FOREX:SGDCNY)
Sidelines Mode (-55) - SGDCNY is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid SGDCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for SGDCNY.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for SGDCNY
The long-term trend has been DOWN since Sep 1st, 2020 at 5.0150870
The intermediate-term trend has been DOWN since Sep 20th, 2021 at 4.7808292
The short-term trend has been UP since Oct 14th, 2021 at 4.7718108
Smart Scan Analysis for SGDCNY
Based on our trend formula, SGDCNY is rated as a -55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).