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Forex Trend Analysis Report

Prepared for you on Friday, May 24, 2024.

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.

FOREX_USDCNY
Open High Low USDCNY Price Change
7.1112 7.1281 7.0897 7.1094 -0.0018
Entry Signal

MarketClub’s Trade Triangles for USDCNY

long term up The long-term trend has been UP since Mar 27th, 2024 at 7.2073

intermediate term down The intermediate-term trend has been DOWN since Apr 29th, 2024 at 7.0882

short term up The short-term trend has been UP since May 19th, 2024 at 7.2276

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).

-55
Smart Scan Analysis for USDCNY
Strong Downtrend Sideways Strong Uptrend
Open High Low Price Change
7.1112 7.1281 7.0897 7.1094 -0.0018
Prev. Close Volume Bid Ask Time
7.1112 2024-05-24 08:47:38
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