Forex Trend Analysis Report
Prepared for you on Sunday, October 22, 2017.
Gold Spot (FOREX:XAUUSDO)
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 XAUUSDO
The long term trend has been UP since Aug 18th, 2017 at 1295.56
The intermediate term trend has been DOWN since Sep 21st, 2017 at 1290.96
The short term trend has been DOWN since Oct 17th, 2017 at 1292.39
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).