Forex Trend Analysis Report
Prepared for you on Wednesday, October 24, 2018.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis shows the current uptrend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Uptrend with very tight 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 XAUUSDO
The long term trend has been DOWN since May 1st, 2018 at 1304.465
The intermediate term trend has been UP since Oct 11th, 2018 at 1210.845
The short term trend has been UP since Oct 23rd, 2018 at 1230.300
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored +60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).