Forex Trend Analysis Report
Prepared for you on Thursday, February 22, 2018.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very 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 UP since Jan 1st, 2018 at 1307.625
The intermediate term trend has been DOWN since Feb 6th, 2018 at 1325.435
The short term trend has been DOWN since Feb 19th, 2018 at 1345.800
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).