Forex Trend Analysis Report
Prepared for you on Tuesday, April 7, 2020.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Sidelines Mode (+55) - USDCNY 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 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.
MarketClub’s Trade Triangles for USDCNY
The long-term trend has been UP since Mar 18th, 2020 at 7.0728
The intermediate-term trend has been UP since Mar 18th, 2020 at 7.0425
The short-term trend has been DOWN since Apr 6th, 2020 at 7.0826
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).