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Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
US Dollar/Colombian Peso (FOREX:USDCOP)
Bear Market Rally (-75) - USDCOP is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on USDCOP as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid USDCOP?
MarketClub looks at technical strength and momentum to determine if the timing is right for USDCOP.
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 USDCOP
The long-term trend has been DOWN since Dec 26th, 2023 at 3881.11
The intermediate-term trend has been UP since Apr 15th, 2024 at 3878.51
The short-term trend has been DOWN since May 7th, 2024 at 3883.63
Smart Scan Analysis for USDCOP
Based on our trend formula, USDCOP is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 3886.31 | 3911.02 | 3886.31 | 3898.00 | +11.69 |
| Prev. Close | Volume | Bid | Ask | Time |
| 3886.31 | 2024-05-08 20:27:38 |