Forex Trend Analysis Report
Prepared for you on Saturday, September 21, 2019.
US Dollar/Chinese Yuan Renminbi (FOREX:USDCNY)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight money management stops.
The Trade Triangles are generated using a proprietary algorithm that is comprised of weighted factors that include, but are not limited to - price change, percentage change, moving averages, and new highs/lows. The MarketClub trading strategy is based on the triangles, learn more here.
MarketClub’s Trade Triangles for USDCNY
The long term trend has been UP since May 8th, 2019 at 6.7927
The intermediate term trend has been DOWN since Sep 16th, 2019 at 7.0685
The short term trend has been DOWN since Sep 20th, 2019 at 7.0840
Smart Scan Analysis for USDCNY
Based on a pre-defined weighted trend formula for chart analysis, USDCNY scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).