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Forex Trend Analysis Report
Prepared for you on Wednesday, February 5, 2025.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Sidelines Mode (-50) - USDCNY is failing to move into a strong trend and is encountering choppy trading conditions. Be cautious and consider taking a sidelines position until USDCNY can gain momentum.
Is it time to buy, sell, or avoid USDCNY?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCNY.
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 USDCNY
The long-term trend has been UP since Nov 22nd, 2024 at 7.24840
The intermediate-term trend has been DOWN since Jan 20th, 2025 at 7.18150
The short-term trend has been DOWN since Feb 4th, 2025 at 7.16625
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a -50 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.2839 | 7.2844 | 7.2836 | 7.2836 | -0.0003 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.2839 | 2025-02-05 01:00:45 |