Forex Trend Analysis Report
Prepared for you on Thursday, October 21, 2021.
Mexican Peso/Canadian Dollar (FOREX:MXNCAD)
Bear Market Rally (-75) - MXNCAD is showing some rallying power, but still remains in the confines of a long-term downtrend. Keep an eye on MXNCAD as it may be in the beginning of a reversal.
Is it time to buy, sell, or avoid MXNCAD?
MarketClub looks at technical strength and momentum to determine if the timing is right for MXNCAD.
Learn more about the Trade Triangles and how we make technical analysis as easy as buy and sell.
MarketClub’s Trade Triangles for MXNCAD
The long-term trend has been DOWN since Oct 4th, 2021 at 0.06125350
The intermediate-term trend has been DOWN since Aug 23rd, 2021 at 0.06218772
The short-term trend has been UP since Oct 13th, 2021 at 0.06024591
Smart Scan Analysis for MXNCAD
Based on our trend formula, MXNCAD is rated as a -75 on a scale from -100 (Strong Downtrend) to +100 (Strong Uptrend).