Forex Trend Analysis Report
Prepared for you on Wednesday, October 24, 2018.
Euro/US Dollar (FOREX:EURUSD)
Smart Scan Chart Analysis is showing some near term rallying power. However, this market remains in the confines of a longer-term Downtrend with 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 EURUSD
The long term trend has been DOWN since May 1st, 2018 at 1.20642
The intermediate term trend has been DOWN since Oct 2nd, 2018 at 1.15290
The short term trend has been UP since Oct 22nd, 2018 at 1.15295
Smart Scan Analysis for EURUSD
Based on a pre-defined weighted trend formula for chart analysis, EURUSD scored -75 on a scale from -100 (strong downtrend) to +100 (strong uptrend).