Forex Trend Analysis Report
Prepared for you on Thursday, December 13, 2018.
British Pound/Canadian Dollar (FOREX:GBPCAD)
Smart Scan Chart Analysis confirms that a strong downtrend is in place and that the market remains negative longer term. Strong Downtrend with money management stops. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders.
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 GBPCAD
The long term trend has been DOWN since May 4th, 2018 at 1.736240
The intermediate term trend has been DOWN since Dec 3rd, 2018 at 1.678625
The short term trend has been DOWN since Dec 10th, 2018 at 1.690955
Smart Scan Analysis for GBPCAD
Based on a pre-defined weighted trend formula for chart analysis, GBPCAD scored -100 on a scale from -100 (strong downtrend) to +100 (strong uptrend).