Forex Trend Analysis Report
Prepared for you on Saturday, November 16, 2019.
Euro/US Dollar (FOREX:EURUSD)
Smart Scan Chart Analysis confirms that a short term counter trend move is underway. When this action is over look for the longer term negative trend to resume. Downtrend with 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 EURUSD
The long term trend has been DOWN since May 1st, 2018 at 1.206420
The intermediate term trend has been DOWN since Nov 10th, 2019 at 1.101725
The short term trend has been UP since Nov 15th, 2019 at 1.103900
Smart Scan Analysis for EURUSD
Based on a pre-defined weighted trend formula for chart analysis, EURUSD scored -85 on a scale from -100 (strong downtrend) to +100 (strong uptrend).