Forex Trend Analysis Report
Prepared for you on Tuesday, August 20, 2019.
British Pound/Canadian Dollar (FOREX:GBPCAD)
Smart Scan Chart Analysis shows that negative longer term is strengthening. The market action could signal the start of a major trend change Weak Downtrend Very tight 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 GBPCAD
The long term trend has been DOWN since May 22nd, 2019 at 1.697400
The intermediate term trend has been DOWN since May 15th, 2019 at 1.731875
The short term trend has been UP since Aug 13th, 2019 at 1.606100
Smart Scan Analysis for GBPCAD
Based on a pre-defined weighted trend formula for chart analysis, GBPCAD scored -65 on a scale from -100 (strong downtrend) to +100 (strong uptrend).