Forex Trend Analysis Report
Prepared for you on Thursday, December 1, 2022.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Weak Downtrend (-65) - USDCNH is showing signs of a strengthening downtrend. Monitor USDCNH as it may be building momentum to the downside.
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.
MarketClub’s Trade Triangles for USDCNH
The long-term trend has been UP since Mar 14th, 2022 at 6.397810
The intermediate-term trend has been DOWN since Nov 10th, 2022 at 7.167145
The short-term trend has been DOWN since Nov 29th, 2022 at 7.150580
Smart Scan Analysis for USDCNH
Based on our trend formula, USDCNH is rated as a -70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).