Forex Trend Analysis Report
Prepared for you on Wednesday, May 24, 2017.
Gold Spot (FOREX:XAUUSDO)
Smart Scan Chart Analysis shows the current uptrend is at a crossroads and has possibly ended. Look for choppy trading action in the nearterm Very Weak Uptrend 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 XAUUSDO
The long term trend has been UP since Apr 6th, 2017 at 1263.585
The intermediate term trend has been DOWN since May 3rd, 2017 at 1247.685
The short term trend has been DOWN since May 24th, 2017 at 1250.805
Smart Scan Analysis for XAUUSDO
Based on a pre-defined weighted trend formula for chart analysis, XAUUSDO scored +60 on a scale from -100 (strong downtrend) to +100 (strong uptrend).