Forex Trend Analysis Report
Prepared for you on Tuesday, June 2, 2020.
Canadian Dollar/Special drawing rights (FOREX:CADXDR)
Countertrend Up (+85) - CADXDR is showing short-term weakness. However, look for the longer-term bullish trend to resume. As always, continue to monitor the trend score and utilize a stop order.
Is it time to buy, sell, or avoid CADXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for CADXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for CADXDR
The long-term trend has been UP since Jan 22nd, 2020 at 0.55468922
The intermediate-term trend has been UP since Mar 24th, 2020 at 0.50909021
The short-term trend has been UP since May 18th, 2020 at 0.52307894
Smart Scan Analysis for CADXDR
Based on our trend formula, CADXDR is rated as a +80 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).