Forex Trend Analysis Report
Prepared for you on Thursday, February 23, 2017.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term Uptrend with 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 XAUUSDO
The long term trend has been DOWN since Oct 4th, 2016 at 1303.295
The intermediate term trend has been UP since Jan 4th, 2017 at 1165.690
The short term trend has been UP since Feb 22nd, 2017 at 1238.710
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored +70 on a scale from -100 (strong downtrend) to +100 (strong uptrend).