Forex Trend Analysis Report
Prepared for you on Saturday, August 18, 2018.
Euro/Canadian Dollar (FOREX:EURCAD)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with 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 EURCAD
The long term trend has been DOWN since May 9th, 2018 at 1.526325
The intermediate term trend has been DOWN since Jul 25th, 2018 at 1.528960
The short term trend has been UP since Aug 17th, 2018 at 1.498550
Smart Scan Analysis for EURCAD
Based on a pre-defined weighted trend formula for chart analysis, EURCAD scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).