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Forex Trend Analysis Report

Prepared for you on Sunday, February 25, 2024.

US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)

Sidelines Mode (+50) - USDCNH is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until USDCNH can gain momentum.

Is it time to buy, sell, or avoid USDCNH?

MarketClub looks at technical strength and momentum to determine if the timing is right for USDCNH.

Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.

FOREX_USDCNH
Open High Low USDCNH Price Change
7.20749 7.21427 7.20414 7.20760 +0.00011
Entry Signal

MarketClub’s Trade Triangles for USDCNH

long term down The long-term trend has been DOWN since Nov 20th, 2023 at 7.156145

intermediate term up The intermediate-term trend has been UP since Jan 1st, 2024 at 7.199955

short term up The short-term trend has been UP since Feb 23rd, 2024 at 7.210465

Smart Scan Analysis for USDCNH

Based on our trend formula, USDCNH is rated as a +50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).

+50
Smart Scan Analysis for USDCNH
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
7.20749 7.21427 7.20414 7.20760 +0.00011
Prev. Close Volume Bid Ask Time
7.20749 2024-02-23 17:06:04
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