Forex Trend Analysis Report
Prepared for you on Wednesday, May 23, 2018.
US Dollar/Canadian Dollar (FOREX:USDCAD)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term positive trend to resume. Uptrend with 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 USDCAD
The long term trend has been UP since Mar 2nd, 2018 at 1.291225
The intermediate term trend has been UP since May 1st, 2018 at 1.290150
The short term trend has been DOWN since May 17th, 2018 at 1.275450
Smart Scan Analysis for USDCAD
Based on a pre-defined weighted trend formula for chart analysis, USDCAD scored +85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).