Forex Trend Analysis Report
Prepared for you on Wednesday, October 18, 2017.
Euro/US Dollar (FOREX:EURUSD)
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 EURUSD
The long term trend has been UP since Mar 26th, 2017 at 1.08261
The intermediate term trend has been DOWN since Sep 25th, 2017 at 1.18475
The short term trend has been DOWN since Oct 16th, 2017 at 1.18016
Smart Scan Analysis for EURUSD
Based on a pre-defined weighted trend formula for chart analysis, EURUSD scored -70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).