Forex Trend Analysis Report
Prepared for you on Tuesday, September 2, 2014.
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 Jul 2nd, 2014 at 1331.415
The intermediate term trend has been DOWN since Jul 14th, 2014 at 1306.650
The short term trend has been DOWN since Sep 1st, 2014 at 1283.975
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).