Forex Trend Analysis Report
Prepared for you on Thursday, August 16, 2018.
Mexican Peso/Canadian Dollar (FOREX:MXNCAD)
Smart Scan Chart Analysis shows the current downward trend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Downtrend with very tight 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 MXNCAD
The long term trend has been UP since Aug 7th, 2018 at 0.070490
The intermediate term trend has been DOWN since Aug 12th, 2018 at 0.068645
The short term trend has been DOWN since Aug 9th, 2018 at 0.069910
Smart Scan Analysis for MXNCAD
Based on a pre-defined weighted trend formula for chart analysis, MXNCAD scored -60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).