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Forex Trend Analysis Report
Prepared for you on Sunday, November 24, 2024.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Long-Term Uptrend (+90) - USDCNY is in a strong uptrend that is likely to continue. While USDCNY is showing intraday weakness, it remains in the confines of a bullish trend. Traders should use caution and utilize a stop order.
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 7.2484
The intermediate-term trend has been UP since Oct 14th, 2024 at 7.0955
The short-term trend has been UP since Nov 20th, 2024 at 7.2455
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a +90 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.2425 | 7.2425 | 7.2425 | 7.2425 | 0.0000 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.2425 | 2024-11-24 01:30:31 |