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Forex Trend Analysis Report
Prepared for you on Monday, March 8, 2021.
US Dollar/Chinese Yuan Renminbi Offshore (FOREX:USDCNH)
Bull Market Weakness (+75) - USDCNH is showing signs of short-term weakness, but still remains in the confines of a long-term uptrend. Keep an eye on USDCNH as it may be in the beginning stages of a reversal.
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.
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MarketClub’s Trade Triangles for USDCNH
The long-term trend has been DOWN since Jul 6th, 2020 at 7.036900
The intermediate-term trend has been UP since Feb 25th, 2021 at 6.487830
The short-term trend has been UP since Mar 4th, 2021 at 6.483595
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).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 6.52722 | 6.53441 | 6.51804 | 6.53426 | +0.00704 |
| Prev. Close | Volume | Bid | Ask | Time |
| 6.52722 | 2021-03-08 02:27:28 |