Forex Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
Sidelines Mode (+55) - EURLRD is moving in a sideways pattern and is unable to gain momentum in either direction. Beware of choppy movement and consider a sidelines position until a stronger trend is identified.
Is it time to buy, sell, or avoid EURLRD?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURLRD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for EURLRD
The long-term trend has been UP since Nov 11th, 2022 at 157.59
The intermediate-term trend has been UP since Oct 24th, 2023 at 202.81
The short-term trend has been DOWN since Dec 2nd, 2023 at 209.02
Smart Scan Analysis for EURLRD
Based on our trend formula, EURLRD is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).