Free Daily Analysis
Forex Trend Analysis Report
Prepared for you on Wednesday, May 8, 2024.
Euro/US Dollar (FOREX:EURUSD)
Bear Market Rally (-75) - EURUSD is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on EURUSD as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid EURUSD?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURUSD.
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 EURUSD
The long-term trend has been DOWN since Apr 12th, 2024 at 1.069500
The intermediate-term trend has been DOWN since Mar 27th, 2024 at 1.083055
The short-term trend has been DOWN since May 8th, 2024 at 1.073820
Smart Scan Analysis for EURUSD
Based on our trend formula, EURUSD is rated as a -80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).
| Open | High | Low | Price | Change |
|---|---|---|---|---|
| 1.074085 | 1.075750 | 1.073515 | 1.074435 | +0.000350 |
| Prev. Close | Volume | Bid | Ask | Time |
| 1.074085 | 2024-05-08 20:59:34 |