Forex Trend Analysis Report
Prepared for you on Monday, December 4, 2023.
Euro/Special drawing rights (FOREX:EURXDR)
Sidelines Mode (+55) - EURXDR 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 EURXDR?
MarketClub looks at technical strength and momentum to determine if the timing is right for EURXDR.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for EURXDR
The long-term trend has been UP since Nov 16th, 2023 at 0.8210
The intermediate-term trend has been UP since Oct 24th, 2023 at 0.8093
The short-term trend has been DOWN since Dec 1st, 2023 at 0.8198
Smart Scan Analysis for EURXDR
Based on our trend formula, EURXDR is rated as a +55 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).