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Forex Trend Analysis Report
Prepared for you on Thursday, May 2, 2024.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Weak Downtrend (-65) - USDCNY is showing signs of a strengthening downtrend. Monitor USDCNY as it may be building momentum to the downside.
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 Mar 27th, 2024 at 7.2073
The intermediate-term trend has been DOWN since Apr 29th, 2024 at 7.0882
The short-term trend has been DOWN since Apr 25th, 2024 at 7.0951
Smart Scan Analysis for USDCNY
Based on our trend formula, USDCNY is rated as a -70 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
-70
Strong Downtrend
Sideways
Strong Uptrend
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 7.2409 | 7.2409 | 7.0723 | 7.2402 | -0.0007 |
| Prev. Close | Volume | Bid | Ask | Time |
| 7.2409 | 2024-05-02 02:57:29 |
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